ACC 304 Endless Education /uophelp.com ACC 304 Endless Education /uophelp.com | Page 24

Common treasury stock:
Number of shares
9,000
Total cost
$ 240,000
Net income
$ 610,000
Compute( assume no changes in balances during the past year):( Round per share and ratios to 2 decimal places, e. g. $ 15.75 or 15.75 %.)
( a)
Total amount of stockholders ' equity in the balance
sheet
$
( b)
Earnings per share of common stock
$
per share
( c)
Book value per share of common stock
$
per share( d)
Payout ratio of common stock
%( e)
Return on common stock equity
%
2) On January 1, 2015, Piper Co. issued ten-year bonds with a face value of $ 3,000,000 and a stated interest rate of 10 %, payable semiannually on June 30 and December 31. The bonds were sold to yield 12 %. Table values are: