177 high seas shipping inc reported the following results for the year ending april 4296928

 

177. High Seas Shipping Inc. reported the following results for the year ending April 30, 2008:

Retained earnings, May 1, 2007	$2,870,000
Net income	530,000
Cash Dividends declared	80,000
Stock dividends declared	120,000

Prepare a retained earnings statement for the fiscal year ended April 30, 2008. 

178. Based on the following information, calculate the dividend yield on common stock:
 

Market price per share$50.00

Earnings per share10.00

Dividends per share3.00

Investor's cost per share40.00

179. Based on the following information, calculate the dividend yield on common stock:
 

Market price per share$50.00

Earnings per share10.00

Dividends per share2.00

Investor's cost per share40.00

180. Indicate whether the following actions would (+) increase, (-) decrease, or (0) not affect a company's total assets, liabilities, and stockholders' equity.
 

    Stockholders'

  Assets  Liabilities      Equity

(1)Declaring a cash dividend_____________________

(2)Paying the cash dividend declared in (1)_____________________

(3)Declaring a stock dividend_____________________

(4)Issuing stock certificates for the stock   

 dividend declared in (3)_____________________

181. A corporation was organized on January 30 of the current year, with an authorization of 20,000 shares of $4 preferred stock, $12 par, and 100,000 shares of $3 par common stock.

The following selected transactions were completed during the first year of operations:
 

Jan. 30Issued 15,000 shares of common stock at $21 per share for cash.

       31Issued 1,100 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.

Feb. 24Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $55,000 $120,000, and $45,000 respectively.

Mar. 15Issued 2,000 shares of preferred stock at $54 for cash.