(Solution) - The balance sheet information of the John Company at the -(2025 Original AI-Free Solution)

Paper Details

The balance sheet information of the John Company at the end of 2007 and 2008 is as follows:

Additional information:
At the end of 2007,
(a) The amount of long-term liabilities is twice the amount of current liabilities, and
(b) There are 2,900 shares of common stock outstanding.
During 2008, the company
(a) Issued 100 shares of common stock for $25 per share,
(b) Earned net income of $20,600, and
(c) Paid dividends of $1 per share on the common stock outstanding at year-end.

Required
Fill in the blanks lettered (a) through (p). All of the necessary information is provided.