The Stockholders’ Equity accounts of ExxonMobil on December 31, 2022 were as follows: Preferred Stock ( 6% , $100 par, cumulative, 800 authorized) $720,000 Common Stock ( $3 par, 1,500,000 authorized) 1,080,000 APIC – Preferred Stock 108,000 APIC – Common Stock 840,000 Retained Earnings 936,000 Treasury Stock – Common ( $9 cost) 54,000
The
| $720,000 | |
| Common Stock ( $3 par, 1,500,000 authorized) | 1,080,000 |
| APIC – Preferred Stock | 108,000 |
| APIC – Common Stock | 840,000 |
| 936,000 | |
| 54,000 |
During 2023, ExxonMobil had the following transactions and events pertaining to its stockholders’ equity:
March 21: Issued 24,000 shares of Common Stock in exchange for Land. On the date of purchase, the Land had a Fair Market Value of $210,000 and the stock was selling for $11 per share.
April 17: Sold 1,800 shares of Treasury Stock – Common for $12 per share.
November 22: Purchased 800 shares of Common Stock for the Treasury at a cost of $7,560.
December 31: Determine that net income for the year was $556,000. Dividends were declared and paid during December. These dividends included a $0.20 per share dividend to common stockholders of record as of December 12. Preferred dividends are one year in arrears.
What is the Total Stockholders’ Equity as of December 31, 2023?
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