E8-1B. Analyze equity section of balance sheet (.L O 1, 5)
Outback Steakhouse reported the following information on the financial statement is included with its 2005 annual report. Were any new shares of common stock issued during the year end December 31, 2005? Did the company report a net income for the year ended December 31 2005? Explain how you know.
| (in thousands except per share amounts) | December 31 , 2005 | December 31, 2004 |
| Common stock, par value $0.01 | ||
| Authorized: 200,000 shares; | ||
| Issued: 78,750 shares at Dec. 31,2005; | ||
| 78,750 shares at Dec. 31, 2004 | 788 | 788 |
| Outstanding: 74,854 shares at Dec. 31, 2005 | ||
| 73,767 shares at Dec. 31, 2004 | ||
| Additional paid-in capital | 291,0 35 | 271,109 |
| Retained earnings | 1,104,423 | 1,025,447 |
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