reporting and interpreting owners equity

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1、ConfirmingPagesLEARNINGOBJECTIVESAfterstudyingthischapter,youshouldbeableto:1.Explaintheroleofstockinthecapitalstructureofacorporation.p.5532.Analyzetheearningspershareratio.p.5563.DescribethecharacteristicsofcommonstockandanalyzetransactionsaffectingLec

2、turepresentationLP-11commonstock.p.556www.mhhe.com/libby7e4.Discussdividendsandanalyzetransactions.p.5605.Analyzethedividendyieldratio.p.5606.Discussthepurposeofstockdividendsandstocksplits,andreporttransactions.p.5637.Describethecharacteristicsofpreferr

3、edstockandanalyzetransactionsaffectingpreferredstock.p.5658.Discusstheimpactofcapitalstocktransactionsoncashflows.p.567lib11021_ch11_550-595.indd55027/06/1011:08AMConfirmingPagesCHAPTERELEVENREPORTINGANDINTERPRETINGOWNERS’EQUITYheKrogerCo.(Kroger)isafami

4、liarnameforU.S.consumers.Thepopularsupermarketchainwasfoundedin1883andnowoperates2,481supermarkets,771convenienceTstores,and385finejewelrystores.ThecompanyisoneofthelargestretailersintheUnitedStatesbasedonannualsales,rankinginthetop25oftheFortune100list.

5、ThetypicalKrogersupermarketstocksapproximately14,000individualitemswith27percentofitssalesvolumecomingfromprivatelabelmerchandise,manyofwhicharemanufacturedbyKroger.TheKrogerCo.’sgrowthstrategyisbasedonincreasingsalesbyimprovingitsexistingstorebasethroug

6、hremodels.Thecompanycurrentlymakesabout$2billionincapitalexpenditureseachyear.Throughthisstrategy,FOCUSCOMPANY:managementseekstoprovideshort-termresultsforshareholderswhileTheKrogerCo.continuingtoinvestinthelong-termgrowthofthecompany.FINANCINGCORPORATEG

7、ROWTHInthischapter,westudytheroleWITHCAPITALSUPPLIEDBYOWNERSthatstockholders’equityplaysinbuildingasuccessfulbusinessandwww.kroger.comstrategiesthatmanagersusetomaxi-mizestockholders’wealth.UNDERSTANDINGTHEBUSINESSTosomepeople,thewordscorporationandbusin

8、essarealmostsynonymous.You’veprob-ablyheardfriendsrefertoacareerinbusinessas“thecorporateworld.”Equatingbusinesswithcorporationsisunderstandablebecausecorporationsarethedominantformofbusinessorganizationintermsofvolumeofop