Statement of Shareholders' Equity On January 1, Year 5, Osgood Film Studios reported the following alphabetical list of shareholders' equity items: Additional paid-in capital on common stock $170,000 Additional paid-in capital on preferred stock 12,000 Common stock, $2 par 80,000 Preferred stock, $100 par 60,000 Retained earnings 209,000 During the year, the company sold 3,000 shares of common stock for $10 per share and 500 shares of preferred stock for $125 per share. It also earned income of $99,000 and paid dividends of $8 per share on the preferred stock and $1.50 per share on the common stock outstanding at the end of the year. Required: Prepare Osgood's statement of shareholders' equity (include retained earnings) for Year 5. OSGOOD FILM STUDIOSStatement of Shareholders' EquityFor Year Ended December 31, Year 5 PreferredStock$100 par CommonStock$2 par AdditionalPaid-in Capitalon Preferred Stock AdditionalPaid-in Capitalon Common Stock RetainedEarnings Total Balances, 1/1/Year 5 $fill in the blank 1 $fill in the blank 2 $fill in the blank 3 $fill in the blank 4 $fill in the blank 5 $fill in the blank 6 Common stock issued fill in the blank 7 fill in the blank 8 fill in the blank 9 Preferred stock issued fill in the blank 10 fill in the blank 11 fill in the blank 12 Net income fill in the blank 13 fill in the blank 14 Cash dividend paid on preferred fill in the blank 15 fill in the blank 16 Cash dividend paid on common fill in the blank 17 fill in the blank 18 Balances, 12/31/Year 5 $fill in the blank 19 $fill in the blank 20 $fill in the blank 21 $fill in the blank 22 $fill in the blank 23 $fill in the blank 24

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter12: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 4COP: Selected transactions completed by Equinox Products Inc. during the fiscal year ended December 31,...

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Question

Statement of Shareholders' Equity

On January 1, Year 5, Osgood Film Studios reported the following alphabetical list of shareholders' equity items:

Additional paid-in capital on common stock		$170,000
Additional paid-in capital on preferred stock		12,000
Common stock, $2 par		80,000
Preferred stock, $100 par		60,000
Retained earnings		209,000

During the year, the company sold 3,000 shares of common stock for $10 per share and 500 shares of preferred stock for $125 per share. It also earned income of $99,000 and paid dividends of $8 per share on the preferred stock and $1.50 per share on the common stock outstanding at the end of the year.

Required:

Prepare Osgood's statement of shareholders' equity (include retained earnings) for Year 5.

OSGOOD FILM STUDIOSStatement of Shareholders' EquityFor Year Ended December 31, Year 5

	Preferred Stock $100 par	Common Stock $2 par	Additional Paid-in Capital on Preferred Stock	Additional Paid-in Capital on Common Stock	Retained Earnings	Total
Balances, 1/1/Year 5	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3	$fill in the blank 4	$fill in the blank 5	$fill in the blank 6
Common stock issued		fill in the blank 7		fill in the blank 8		fill in the blank 9
Preferred stock issued	fill in the blank 10		fill in the blank 11			fill in the blank 12
Net income					fill in the blank 13	fill in the blank 14
Cash dividend paid on preferred					fill in the blank 15	fill in the blank 16
Cash dividend paid on common					fill in the blank 17	fill in the blank 18
Balances, 12/31/Year 5	$fill in the blank 19	$fill in the blank 20	$fill in the blank 21	$fill in the blank 22	$fill in the blank 23	$fill in the blank 24