Preparing a Statement of Stockholders Equity LO5-3
At the end of the 2014 annual reporting period, Barnard Corporation's balance sheet showed the following:
BARNARD CORPORATION
Balance Sheet
At December 31, 2014 |
| Stockholders' equity |
|
|
| Contributed capital |
|
|
| Common stock (par $15; 5,800 shares) |
$ |
87,000 |
| Paid-in capital |
|
12,000 |
| |
| Total contributed capital |
|
99,000 |
| Retained earnings |
|
50,000 |
| |
| Total stockholders' equity |
$ |
149,000 |
During 2015, the following selected transactions (summarized) were completed:
a. Sold and issued 1,200 shares of common stock at $20 cash per share (at year-end).
b. Determined net income, $45,000.
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, 2015.