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The following account balances relate to the stockholders’ equity accounts of Windsor, Inc. at year-end. 2022...

The following account balances relate to the stockholders’ equity accounts of Windsor, Inc. at year-end. 2022 2021 Common stock, 9,740 and 9,240 shares, respectively, for 2022 and 2021 $163,560 $142,760 Preferred stock, 4,670 shares 112,080 112,080 Retained earnings 287,860 243,000 A small stock dividend was declared and issued in 2022. The market price of the shares was $9,660. Cash dividends were $19,180 in both 2022 and 2021. The common stock has no par or stated value. What was the amount of net income reported by Windsor, Inc. in 2022? Net income $Enter the amount of net income in dollars eTextbook and Media Determine the amounts of any cash inflows or outflows related to the common stock and dividend accounts in 2022. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Cash flow related to common stock account $Enter cash flow related to common stock account in dollars Cash flow related to dividend account $Enter cash flow related to dividend account in dollars eTextbook and Media Indicate where each of the cash inflows or outflows identified in (b) would be classified on the statement of cash flows. Cash flow related to common stock account Select a section of the cash flow statement Cash flow related to dividend account Select a section of the cash flow statement eTextbook and Media

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Answer #1

a.

Net income = ending retained earnings + cash dividends +stock dividend - beginning retained earnings

Net income = 287860 + 19180 + 9660 - 243000

Net income = $73700

.

b.

Cash flow related to common stock account = ending common stock - stock dividend - beginning common stock

Cash flow related to common stock account = 163560 - 9660 - 142760

Cash flow related to common stock account = $11140

Cash flow related to dividend account (outflow)= - $19180

.

c.

Cash flow related to common stock account = Financing activities

Cash flow related to dividend account = Financing activities

.

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