(a) Show the computation to yield the $1,033 balance reported for common stock.
ID: 2788798 • Letter: #
Question
(a) Show the computation to yield the $1,033 balance reported for common stock. Enter complete number for number of shares (with all zeros).
(Answer
shares) x ($Answer
) = $1,033 thousand
(b) How many shares are outstanding at 2013 fiscal year-end?
Answer
shares
Stockholders' Equity (thousands, except par value amounts) February 2, 2013 January 28, 2012 Class A common stock-$0.01 par value: 150,000 shares authorized and 103,300 shares issues at each of February 2, 2013, and January 28, 2012 $ 1,033 $ 1,033 Paid-in capital 403,271 369,171 Retained earnings 2,567,261 2,389,614 Accumulated other comprehensive income (loss),net of tax (13,288) 6,291 Treasury stock at average cost: 24,855 and 17,662 shares at February 2, 2013 and
January 28, 2012, respectively (1,140,009) (834,774) Total shareholders' equity $ 1,818,268 $ 1,931,335
Explanation / Answer
Requirement a:
Number of shares = 103300,000
Par Value = $0.01
Par Value of Shares = 103300000 * 0.01 = $1033000
Requirement b:
Number of shares outstanding at the end of 2013
= Common Stock - Treasury Stock
= 103300000 - 24855000
= 78445000
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