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E11-8 (Algo) Reporting Stockholders' Equity L011-1, 11-3, 11-7 Abe's Steakhouse is the largest upscale steakhouse...

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Accounting

image E11-8 (Algo) Reporting Stockholders' Equity L011-1, 11-3, 11-7 Abe's Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a broad selection of high-quality steaks and other premium offerings. Assume the information below is from a recent annual report: a. Common stock, $0.01 par value; 100,020,000 shares authorized; 23,473,356 issued and outstanding at the end of the current year; 23,315,356 issued and outstanding at the end of last year. b. Additional paid-in capital: $199,389,000 at the end of the current year and $178,431,000 at the end of last year. c. Accumulated deficit: ($80,997,000) at the end of last year. d. In the current year, net income was $54,983,000 and a cash dividend of $7,138,000 was paid. Required: Prepare the stockholders' equity section of the balance sheet to reflect the above information for the current year and last year. Note: Amounts to be deducted should be indicated with a minus sign

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