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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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