the following information is from the equity section of the comparative balance shee 541422
P8-8A. Analyze equity section of balance sheet. (LO 1, 2, 3, 4)
The following information is from the equity section of the comparative balance sheets of Aloha Cruises Inc.
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the following information is from the equity section of the comparative balance shee 541422
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Aloha Cruises Inc. Consolidated Balance Sheets |
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Shareholder’s equity: |
June 30, 2006 |
June 30, 2005 |
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Common stock, $0.10 par value; |
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250,000 shares issued and |
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Shares outstanding at June 30, 2 006; |
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and 220,000 shares issued and |
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Shares outstanding at June 30, 2005. |
$ 25.0 |
$ 22.0 |
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Additional paid-in-capital |
3,580 |
3,014 |
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Retained earnings |
8,237 |
7,450 |
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Treasury stock, at cost, |
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14,200 shares at June 30, 2006, |
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and 12,000 shares at June 30, 2005. |
213 |
171.6 |
Required
a. What was the average issue price per share of the 250,000 shares classified as “issued” at June 30, 2006? (Round the answer to the nearest cent.)
b. What was the average issue price of the 30,000 shares of common stock issued during the fiscal year ending June 30, 2006?
c. How many shares were outstanding at June 30,2006? How many shares were outstanding at June 30,2005?
d. How many shares did the company buy back during the year? What was the average cost of a share of the treasury shares purchased during the year?
(Assume no treasury stock was sold during the year.)
e. If no dividends were paid, what was net income for the year ending June 30, 2006?
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