The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) Your answer is incorrect. 2022 $160,800 Net income $ 125,000 300,000 What was the amount of net income reported by Molder Corp. in 2022? 2021 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. $140,000 125,000 270,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end.
Common stock, 10,500 and 10,000 shares, issued and
outstanding, respectively, for 2022 and 2021
Preferred stock, 5,000 shares, issued and outstanding
Retained earnings
(a)
Your answer is incorrect.
2022
$160,800
Net income $
125,000
300,000
What was the amount of net income reported by Molder Corp. in 2022?
2021
A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000
were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value.
$140,000
125,000
270,000
Transcribed Image Text:The following account balances relate to the stockholders' equity accounts of Molder Corp. at year-end. Common stock, 10,500 and 10,000 shares, issued and outstanding, respectively, for 2022 and 2021 Preferred stock, 5,000 shares, issued and outstanding Retained earnings (a) Your answer is incorrect. 2022 $160,800 Net income $ 125,000 300,000 What was the amount of net income reported by Molder Corp. in 2022? 2021 A small stock dividend was declared and issued in 2022. The market price of the shares issued was $8,800. Cash dividends of $20,000 were declared and paid in both 2022 and 2021. The common stock and preferred stock have no par or stated value. $140,000 125,000 270,000
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