ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 10

Market price of stock, 12/31/15

12

Common stockholders' equity, 12/31/14

1,000,000

Common stockholders' equity, 12/31/15

1,200,000

Outstanding shares, 12/31/15 100,000

Preferred dividends for the year ended 2015 10,000

What is the payout ratio for Sealy Corporation for the year
ended 2015?

22) Jenks Corporation acquired Linebrink Products on January
1, 2015 for $8,000,000, and recorded goodwill of $1,500,000 as
a result of that purchase. At December 31, 2015, Linebrink
Products had a fair value of $6,800,000. The net identifiable
assets of the Linebrink (excluding goodwill) had a fair value of