At the end of the prior year annual reporting period, Barnard Corporation's balance sheet showed the following BARNARD CORPORATION Balance Sheet At December 31, Prior Year Stockholders' equity Contributed capital Common stock (par $15; 5,100 shares) Paid-in capital Total contributed capital Retained earnings Total stockholders' equity $76,500 16,000 92,500 49,000 $141,500 During the current year, the following selected transactions (summarized) were completed: a. Sold and issued 1,200 shares of common stock at $22 cash per share (at year-end). b. Determined net income, $47,000. c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding. Required: Prepare a statement of stockholders' equity for the year ended December 31, current year
At the end of the prior year annual reporting period, Barnard Corporation's balance sheet showed the following BARNARD CORPORATION Balance Sheet At December 31, Prior Year Stockholders' equity Contributed capital Common stock (par $15; 5,100 shares) Paid-in capital Total contributed capital Retained earnings Total stockholders' equity $76,500 16,000 92,500 49,000 $141,500 During the current year, the following selected transactions (summarized) were completed: a. Sold and issued 1,200 shares of common stock at $22 cash per share (at year-end). b. Determined net income, $47,000. c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding. Required: Prepare a statement of stockholders' equity for the year ended December 31, current year
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 21E
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