Delphian Corporation’s Balance Sheet

Accounting Principles II Assessment Project 1 Fall 2023/Spring 2024 Delphian Corporation’s Balance Sheet as of December 31, 2024, as follows: DELPHIAN CORPORATION Balance Sheet (Partial) December 31, 2024 Stockholders’ Equity Paid in Capital: Common Stock–$1 Par Value; 11,000,000 shares authorized, 8,000,000 shares issued and outstanding Paid-in Capital in Excess of Par—Common Total Paid-In Capital Retained Earnings $ 8,000,000 200,000 $ 8,200,000 800,000,000 Total Stockholders’ Equity $808,200,000 During 2025, Delphian Corporation had the following transactions: Jan 1 Feb. 15 Mar. 1 Mar. 30 Nov. 1 Nov. 30 Dec. 1 Dec. 20 Issued 10,000 shares of common stock for $10 per share. Issued 2,000 shares of common stock for $8 per share. Declared a $0.20 per share cash dividend on its common stock to be paid on March 30. Date of record: March 15. Paid the cash dividend to stockholders. Declared a 1% common stock dividend on all common stock outstanding. The current market price of the stock was $8. Date of record: November 15. Distributed stock to stockholders. Purchased 5,000 shares of treasury stock-common at $12 per share. Sold 3,000 shares of treasury stock-common at $14 per share. Requirements: 1. Journalize Delphian’s transactions for 2025 and post them to Ledgers. 2. Prepare the stockholders’ equity section of the balance sheet as of 12/31/2025. Assume: Delphian had a net income of $20,000,000 during 2025 and that Cash Dividends and Stock Dividends have been close to the Retained Earnings account. 3. Calculate Delphian’s earnings per share for 2025. 4. Assuming Delphian’s market value per common share as of 12/31/2025, was $15, calculate Delphian’s price/earnings ratio for 2025. *** A lot of this information was covered in Chapter F13 – Week 2.***