ACC 556 STR Course Great Wisdom / tutorialrank.com ACC 556 STR Course Great Wisdom / tutorialrank.com | Page 64

Holden Packaging Corporation began business in 2014 by issuing
80,000 shares of $5 par common stock for $8 per share and 20,000
shares of 6%, $10 par preferred stock for par. At year end, the
common stock had a market value of $10. On its December 31, 2014
balance sheet, Holden Packaging would report
Question 11
The primary purpose of the statement of cash flows is to
Question 12
Cochran Corporation, Inc. has the following income statement (in
millions):
COCHRAN CORPORATION, INC.
Income Statement
For the Year Ended December 31, 2014
Net Sales

$240

Cost of Goods Sold

80

Gross Profit

160

Operating Expenses

65

Net Income

$ 95

Using vertical analysis, what percentage is assigned to net income?
Question 13
The following information pertains to Marsh Company. Assume that
all balance sheet amounts represent average balance figures.
Total asset
Stockholders‘ equity—common

$400,000
200,000