P13-5A Prepare stockholders' equity section

The following stockholders' equity accounts arranged alphabetically are in the ledger of
Galindo Corporation at December 31, 2017.

Common Stock ($5 stated value) ###

Paid-in Capital from Treasury Stock 10,000
Paid-in Capital in Excess of Par-Preferred Stock 679,000
Paid-in Capital in Excess of Stated Value-Comm 1,600,000
Preferred Stock (8%, $50 par) 800,000
Retained Earnings 1,748,000
Treasury Stock (10,000 common shares) 130,000

Instructions
Prepare the stockholders' equity section at December 31, 2017.
he ledger of
E14-17 Compute earnings per share under different assumptions
At December 31, 2017, Millwood Corporation has 2,000 shares of $100 par value, 8% preferred stock
outstanding and 100,000 shares of $10 par value common stock issued. Millwood's net income for the
year is $241,000.

Instructions
Compute the earnings per share of common stock under the following independent situations
(Round to two decimals).
(a) The dividend to preferred stockholders was declared. There has been no change in the
number of shares of common stock outstanding during the year.
(b) The dividend to preferred stockholders was not declared. The preferred stock is
cumulative. Millwood held 10,000 shares of common treasury stock throughout the year.
 value, 8% preferred stock
illwood's net income for the

pendent situations

s been no change in the

preferred stock is
stock throughout the year.