Chapter 5, Problem 5.11E

Prepare a Statement of Stockholders' Equity. Bluebird Products, Inc. provided the following information from its current-year trial balance.

Bluebird Products, Inc.

Trial Balance (Partial)

For the Year Ended December 31

Account	Debit	Credit
Retained Earnings, Beginning Balance		$3,200,950
Accumulated Other Comprehensive Income. Beginning Balance Dividends	$76,500	95,675
Sales		2,200,000
Interest Income		34,500
Dividend Income		12,300
Gain on Disposal of Plant Assets		100,500
Unrealized Gain on Trading Investments		86,000
Unrealized Gain on Available-for-Sale Bonds Before Tax		45.600
Gam due to Flood Damage 8efore Tax		109,000

Bluebird Products, Inc.

Trial Balance (Partial)

For the Year Ended December 31

Account	Debit	Credit
Cost of Goods Sold	$750,000
Selling Expenses	20,000
Office Supplies Expense	123,500
Amorti7ation Expense	34,500
Sales Salaries Expense	55,000
Advertising Expense	68,900
Office Salaries Expense	78,500
Depreciation Expense	68,000
Accounting and Legal Fees	10.425
Systems Consulting Fees	44,550
Interest Expense	23,750
Loss on Asset Impairment	12.350
Loss on Sale of Discontinued Operations Before Tax	90,000

Bluebird issued $345,000 of no-par common stock on June 30 of the current year The company is subject to a 40% income tax rate. The beginning balance in common stock was $1,456,000. Prepare a statement of stockholders' equity for the year ended December 31. Note: You will need to solve for net income using the given information.