142. Court Casuals has the following beginning balances in its stockholders’ equity accounts on January 1, 2015: Common Stock, $100,000; Additional Paid-in Capital, $4,100,000; and Retained Earnings,...

142. Court Casuals has the following beginning balances in its stockholders’ equity accounts on January 1, 2015: Common Stock, $100,000; Additional Paid-in Capital, $4,100,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2015, is $800,000. Court Casuals has the following transactions affecting stockholders’ equity in 2015:

May 18Issues 25,000 additional shares of $1 par value common stock for $40 per share.

May 31Repurchases 5,000 shares of treasury stock for $45 per share.

July 1Declares a cash dividend of $1 per share to all stockholders of record on July 15.
Hint:
Dividends are not paid on treasury stock.

July 31Pays the cash dividend declared on July 1.

August 10Reissues 2,500 shares of treasury stock purchased on May 31 for $48 per share.

Taking into consideration all the entries described above, prepare the statement of stockholders’ equity for the year ended December 31, 2015, using the format provided.

143. The financial statements of
Heatwave Athletic Wear include the following selected data ($ in millions): Sales, $22,502; Net income $875; Beginning stockholders’ equity $3,567; Ending stockholders’ equity, $4,102. Calculate the return on equity.

144. The financial statements of Trail Apparel include the following selected data (in millions):

1. Calculate the return on equity for 2015.

2.Calculate the return on the market value of equity for 2015

3.Calculate the price-earnings ratio for 2015.