The Following Stockholders' Equity Section of Petal Pusher Company's Balance

question 51

Essay

The following stockholders' equity section of Petal Pusher Company's balance sheet appeared at December 31, 2015.
Answer the following:
A Has the company been profitable since its inception? How do you know?
B What does the balance in retained earnings represent?

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Definitions:

Inadequacy-based Self Statements

Negative beliefs about oneself that reflect a sense of personal insufficiency or worthlessness.

Guilt-base Self Statements

Negative self-talk that focuses on feelings of guilt or personal failing, often detrimental to one's mental health.

Symptom-based Self Statements

Negative self-talk directly related to one's symptoms or issues, often reinforcing the problem or condition.

Private Logic

An individual's personal system of beliefs, attitudes, and opinions that uniquely guides their behaviors and perceptions.