Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Current Attempt in Progress
On January 1, 2022, Wildhorse Co. purchased 1,400 shares of treasury stock. Other information regarding Wildhorse Co. is provided
as follows.
2022
2021
Net income
Dividends on preferred stock
$210,000
$205,000
$ 25,000
$ 25,000
Dividends on common stock
$ 26,000
$ 22,000
Weighted-average number of common shares outstanding
9,600
11,000
Common stockholders' equity beginning of year
$661,000
$601,000
Common stockholders' equity end of year
$741,000
$661,000
(a)
Compute return on common stockholders' equity for each year. (Round return on common stockholders' to 1 decimal place, e.g. 10.5.)
2022
2021
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Transcribed Image Text:View Policies Current Attempt in Progress On January 1, 2022, Wildhorse Co. purchased 1,400 shares of treasury stock. Other information regarding Wildhorse Co. is provided as follows. 2022 2021 Net income Dividends on preferred stock $210,000 $205,000 $ 25,000 $ 25,000 Dividends on common stock $ 26,000 $ 22,000 Weighted-average number of common shares outstanding 9,600 11,000 Common stockholders' equity beginning of year $661,000 $601,000 Common stockholders' equity end of year $741,000 $661,000 (a) Compute return on common stockholders' equity for each year. (Round return on common stockholders' to 1 decimal place, e.g. 10.5.) 2022 2021
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