Following is the stockholders' equity section from the Abercrombie & Fitch Co. balance sheet.Stockholders' Equity ($ thousands, except par value amounts)January 30, 2016January 31, 2015Class A common stock-$0.01 par value: 150,000 shares authorized and 103,300 shares issues at each of January 30, 2016, and January 31, 2015$1,033$1,033Paid-in capital407,029434,137Retained earnings2,530,1962,550,673Accumulated other comprehensive loss, net of tax(114,619)(83,580)Treasury stock at average cost: 35,952 and 33,948 shares at January 30, 2016 and January 31, 2015, respectively(1,532,576)(1,512,562)Total Abercrombie & Fitch Co. stockholders' equity1,291,0631,389,701Noncontrolling interests4,6590Total shareholders' equity$ 1,295,722$ 1,389,701(a) Show the computation to yield the $1,033 balance reported for common stock. Enter complete number for number of shares (with all zeros).(b) How many shares are outstanding at 2016 fiscal year-end?

a. Calculate the amount of yield reported in common stock.

Answered: Following is the stockholders' equity…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...

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Following is the stockholders' equity section from the Abercrombie & Fitch Co. balance sheet.

Stockholders' Equity ($ thousands, except par value amounts)	January 30, 2016	January 31, 2015
Class A common stock-$0.01 par value: 150,000 shares authorized and 103,300 shares issues at each of January 30, 2016, and January 31, 2015	$1,033	$1,033
Paid-in capital	407,029	434,137
Retained earnings	2,530,196	2,550,673
Accumulated other comprehensive loss, net of tax	(114,619)	(83,580)
Treasury stock at average cost: 35,952 and 33,948 shares at January 30, 2016 and January 31, 2015, respectively	(1,532,576)	(1,512,562)
Total Abercrombie & Fitch Co. stockholders' equity	1,291,063	1,389,701
Noncontrolling interests	4,659	0
Total shareholders' equity	$ 1,295,722	$ 1,389,701

(a) Show the computation to yield the $1,033 balance reported for common stock. Enter complete number for number of shares (with all zeros).

(b) How many shares are outstanding at 2016 fiscal year-end?

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