Hello, I need help solving this. # Statement of Stockholders' EquityThe statement of stockholders' equity for I-Cards Inc. for the fiscal year ended December 31, 20Y9, is presented below. It details changes in the stockholders’ equity accounts throughout the year.### COMMON STOCK| Date | Description | Amount ||-----------|--------------|--------------|| Jan. 1 | Balance | $1,100,000 || Apr. 14 | Issued 12,000 shares | $480,000 || **Dec. 31** | **Balance** | **$1,580,000** |### PAID-IN CAPITAL IN EXCESS OF PAR| Date | Description | Amount ||-----------|--------------|--------------|| Jan. 1 | Balance | $176,000 || Apr. 14 | Issued 12,000 shares | $96,000 || **Dec. 31** | **Balance** | **$272,000** |### TREASURY STOCK| Date | Description | Amount ||-----------|--------------|--------------|| Aug. 7 | Purchased 2,000 shares | $74,000 |### RETAINED EARNINGS| Date | Description | Amount ||-----------|--------------|--------------|| Mar. 31 | Dividend | $28,000 || June. 30 | Dividend | $28,000 || Sept. 30 | Dividend | $28,000 || Dec. 31 | Dividend | $28,000 || **Jan. 1** | **Balance** | **$1,910,000** || **Dec. 31** | **Closing (Net income)** | **$287,000** || **Dec. 31** | **Balance** | **$2,085,000** |### Additional Information- **Common Stock**: The common stock account shows the issuance and balance of shares. On April 14, 12,000 shares were issued, adding $480,000 to the account. By December 31, the account balance was $1,580,000.- **Paid-In Capital in Excess of Par**: This section details the additional paid-in capital ### Preparation of a Statement of Stockholders' Equity ### For the Year Ended December 31, 20Y9This exercise aims to prepare a Statement of Stockholders' Equity for the year ended December 31, 20Y9. Below are the steps and layout of the statement:#### I-Cards Inc.#### Statement of Stockholders' Equity#### For the Year Ended December 31, 20Y9This statement provides a detailed layout of the equity accounts for I-Cards Inc. throughout the specified year. The table is formatted as follows:| | Common Stock $40 Par | Paid-In Capital in Excess of Par | Treasury Stock | Retained Earnings | Total ||---|---------------------|----------------------------------|----------------|--------------------|-------|| **Balance, Jan. 1, 20Y9** | $ | $ | $ | $ | $ | | **Issued 12,000 shares of Common Stock** | $ | $ | $ | $ | $ || **Purchased 2,000 shares as Treasury Stock** | $ | $ | $ | $ | $ || **Net Income** | $ | $ | $ | $ | $ || **Dividends** | $ | $ | $ | $ | $ | | **Balance, Dec. 31, 20Y9** | $ | $ | $ | $ | $ |#### Description of Account Columns:- **Common Stock $40 Par**: Represents the par value of the issued shares.- **Paid-In Capital in Excess of Par**: The amount received from shareholders in excess of the par value of the stock.- **Treasury Stock**: Accounts for the company’s own stock that has been repurchased.- **Retained Earnings**: Cumulative net income not distributed as dividends.- **Total**: Sum of all categories, representing the total equity available to shareholders.The table rows capture different transactions and balances throughout the year:1. **Balance, Jan. 1, 20Y9**: Beginning balance of equity accounts.2. **Issued 12,000 shares of Common Stock**: Records issuance of additional shares.3. **Purchased 2,000 shares as Treasury Stock**: Reflects buy-back of shares.4. **Net Income**: Year’s profit added to retained earnings.5. **Dividends**: Distribution of profits to shareholders, reducing

Statement of Stockholders Equity:

The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. СOMMON STOCK Jan. 1 Balance 1,100,000 Apr. 14 Issued 12,000 shares 480,000 Dec. 31 Balance 1,580,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance 176,000 Apr. 14 Issued 12,000 shares 96,000 |Dec. 31 Balance 272,000 TREASURY STOCK Aug. 7 Purchased 2,000 shares 74,000 RETAINED EARNINGS Mar. 31 Dividend 28,000 Jan. 1 Balance 1,910,000 June. 30 Dividend 28,000 Dec. 31 Closing Sept. 30 Dividend 28,000 (Net income) 287,000 Dec. 31 Dividend 28,000 Dec. 31 Balance 2,085,000