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Minchanka [31]
3 years ago
8

Below is the common equity section (in millions) of Timeless Technology's last two year-end balance sheets:

Business
1 answer:
Sonbull [250]3 years ago
3 0

Answer: The firm issued common stock in 2013.

Explanation:

Since the firm has never paid a dividend to its common stockholders, we can see that the firm issued common stock in 2013.

Looking clearly at the common equity section, we can see that there was an increase in the common stock from $1000 to $2000.

The reduction in the retained earnings from $2340 to $2000 also shows that there was a loss.

Based on the above scenarios, we can say that the firm issued common stock in 2013.

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