Case
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Thomson Corporation
Stockholder's Equity
December 31, 2013
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Common stock (40,000 authorized, 25,000 issued and
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outstanding with par value of $10 per share.)
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$ 250,000.00
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Excess paid in capital on common stock
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$ 125,000.00
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Retained Earnings
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$ 500,000.00
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Total stockholder's equity
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$ 875,000.00
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During the current year, Thomson had the following stock transactions:
• The company authorizes the sale of 10% preferred stock, 50,000 shares at par value of $50.
• Sold 20,000 shares of preferred stock at $75 per share.
• Purchased 5,000 shares of common stock at $20 per share for cash.
• Declared and distributed a 2% stock dividend to common stockholders when market price was $25 per share.
• Declared and paid $90,000 in cash dividends to common and preferred stockholders.
• Sold 2,000 shares of treasury stock at $16 per share.
• Net loss is $134,000.
Required:
Prepare the stockholder's equity section of the balance sheet for year-end 2013.