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The following information comes from the 2024 Annual Report to stockholders of Composition Incorporated (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES at December 31, 2022 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.542 per share Compensation under employee incentive plans Treasury shares exchanged for Acquisitions Purchase of shares for treasury BALANCES at December 31, 2023 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.552 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES at December 31, 2024 From the Statement of Cash Flows: Cash flows from financing activities: Dividends paid 2024 2023 $ 72,334 $ 67,022 Required: How many shares of treasury stock were removed for use during 2023? Note: Enter your answer in thousands. Treasury stock removed during 2023 Paid-in capital-excess of par $ 0 Number of Treasury shares (30,651) Treasury stock amount Retained earnings (5,271) 386 (1,892) 404 $ (525,221) 10,828 9,498 $ 1,674,282 243,841 (69,042) 140,109 20,539 (6,758) 132,946 (16,080) 319,193 (123,806) (309,508) 1,849,081 82,055 (3,628) 288 7,185 (73,803) (205) 375 (3,023) $ 129,113 (18,440) 8,361 (48,768) $ (342,730) $ 1,857,333

The following information comes from the 2024 Annual Report to stockholders of Composition Incorporated (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES at December 31, 2022 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.542 per share Compensation under employee incentive plans Treasury shares exchanged for Acquisitions Purchase of shares for treasury BALANCES at December 31, 2023 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.552 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES at December 31, 2024 From the Statement of Cash Flows: Cash flows from financing activities: Dividends paid 2024 2023 $ 72,334 $ 67,022 Required: How many shares of treasury stock were removed for use during 2023? Note: Enter your answer in thousands. Treasury stock removed during 2023 Paid-in capital-excess of par $ 0 Number of Treasury shares (30,651) Treasury stock amount Retained earnings (5,271) 386 (1,892) 404 $ (525,221) 10,828 9,498 $ 1,674,282 243,841 (69,042) 140,109 20,539 (6,758) 132,946 (16,080) 319,193 (123,806) (309,508) 1,849,081 82,055 (3,628) 288 7,185 (73,803) (205) 375 (3,023) $ 129,113 (18,440) 8,361 (48,768) $ (342,730) $ 1,857,333

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 19E: Lyon Company shows the following condensed income statement information for the year ended December...
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The following information comes from the 2024 Annual Report to stockholders of Composition Incorporated (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES at December 31, 2022 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.542 per share Compensation under employee incentive plans Treasury shares exchanged for Acquisitions Purchase of shares for treasury BALANCES at December 31, 2023 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.552 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES at December 31, 2024 From the Statement of Cash Flows: Cash flows from financing activities: Dividends paid 2024 2023 $ 72,334 $ 67,022 Required: How many shares of treasury stock were removed for use during 2023? Note: Enter your answer in thousands. Treasury stock removed during 2023 Paid-in capital-excess of par $ 0 Number of Treasury shares (30,651) Treasury stock amount $ (525,221) Retained earnings (5,271) 386 10,828 $ 1,674,282 243,841 (69,042) (1,892) 140,109 404 20,539 9,498 319,193 (6,758) 132,946 (16,080) (123,806) (309,508) (3,628) 288 7,185 1,849,081 82,055 (73,803) (205) 375 8,361 (3,023) (48,768) $ 129,113 (18,440) $ (342,730) $ 1,857,333
Transcribed Image Text:The following information comes from the 2024 Annual Report to stockholders of Composition Incorporated (in thousands): From the Statement of Changes in Shareholders' Equity: BALANCES at December 31, 2022 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.542 per share Compensation under employee incentive plans Treasury shares exchanged for Acquisitions Purchase of shares for treasury BALANCES at December 31, 2023 Net earnings Sales of common stock under option plans Cash dividends declared on common stock: $0.552 per share Compensation under employee incentive plans Purchase of shares for treasury BALANCES at December 31, 2024 From the Statement of Cash Flows: Cash flows from financing activities: Dividends paid 2024 2023 $ 72,334 $ 67,022 Required: How many shares of treasury stock were removed for use during 2023? Note: Enter your answer in thousands. Treasury stock removed during 2023 Paid-in capital-excess of par $ 0 Number of Treasury shares (30,651) Treasury stock amount $ (525,221) Retained earnings (5,271) 386 10,828 $ 1,674,282 243,841 (69,042) (1,892) 140,109 404 20,539 9,498 319,193 (6,758) 132,946 (16,080) (123,806) (309,508) (3,628) 288 7,185 1,849,081 82,055 (73,803) (205) 375 8,361 (3,023) (48,768) $ 129,113 (18,440) $ (342,730) $ 1,857,333
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