The following account balances relate to the stockholders, Ask an Expert

Finance

The following account balances relate to the stockholders' equity accounts of Gore Corp. at year-end.

2008 2007
Common stock, 10,500 and 10,000 shares,
respectively, for 2008 and 2007 $160,000 $140,000
Preferred stock, 5,000 shares 125,000 125,000
Retained earnings 300,000 260,000

A small stock dividend was declared and issued in 2008. The market value of the shares was $10,500. Cash dividends were $15,000 in both 2008 and 2007. The common stock has no par or stated value.

What was the amount of net income reported by Gore Corp. in 2008?

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M9878367

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Explain how the company newmans own brand fulfills the

Explain how the company Newman's Own brand fulfills the definition of a business for profit and a non-profit business at the same time. Consider in the response the functions of business, entrepreneurship and production ...

You have just leased a car that has monthly payments of 365

You have just leased a car that has monthly payments of $365 for the next 4 years with the first payment due today. If the APR is 6.84 percent compounded monthly, what is the value of the payments today? $13,979.07 $15,3 ...

One of your customers has just made a purchase in the

One of your customers has just made a purchase in the amount of $19,200. You have agreed to payments of $335 per month and will charge a monthly interest rate of 1.11 percent. How many months will it take for the account ...

Gerritt wants to buy a car that costs 26500 the interest

Gerritt wants to buy a car that costs $26,500. The interest rate on his loan is 5.31 percent compounded monthly and the loan is for 6 years. What are his monthly payments? $416.25 $430.60 $439.40 $428.70 $452.13

What choices does one have to make when deciding on health

What choices does one have to make when deciding on health care coverage options? What are consumer health care costs in today's market?

Questions -q1 firm a is issuing a zero-coupon bond that

Questions - Q1: Firm A is issuing a zero-coupon bond that will have a maturity of 50 years. The bond's par value is $1,000, and the current interest rate is 7.5%. What is the price of this bond? Q2: What is the price of ...

You are a new financial analyst for acme bank and funeral

You are a new financial analyst for Acme Bank and Funeral Directors (they decided to diversify). Anyway you are looking at the following for a company you are considering for a loan. Sales = $650,000, their operating pro ...

Question the cement cost index changed from 630 to 654 from

Question: The cement cost index changed from 630 to 654 from the end of 2014 to the end of 2015. You could buy 100 pallets of cement for $200,000 at the end of 2014. How much money did you have to put into an account gai ...

Financial derivatives and risk management assignment -1

Financial Derivatives and Risk Management Assignment - 1. Calculate the PV of $10,000 to be received in ten years under various compounding frequencies: (1) Annual compounding at 10% (2) Monthly compounding at 10% (3) Co ...

Consider three investors who need to partially liquidate

Consider three investors who need to partially liquidate investments to raise cash. In this case, all investments have been held for 3 or more years. Investor A waited for a $1,500 qualified dividend distribution from he ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert