At the beginning of the year, Sunstone, Inc., has total stockholders' equity of $1,200,000 and 20,000 outstanding

Question:

At the beginning of the year, Sunstone, Inc., has total stockholders' equity of $1,200,000 and 20,000 outstanding shares of a single class of capital stock. During the year, the completes the following transactions affecting its stockholders' equity accounts:
Jan. 16 A 5 percent stock is declared and distributed. (Market price, $100 per share.)
Feb. 9 The acquires 300 shares of its own capital stock at a cost of $110 per share.
Mar. 3 All 300 shares of the treasury stock are reissued at a price of $130 per share.
Jul. 5 The capital stock is split 2-for-1.
Nov. 22 The board of directors declares a cash of $12 per share, payable on January 22.
Dec. 31 Net income of $174,000 is reported for the year ended December 31.
Instructions
Compute the amount of total stockholders' equity, the number of shares of capital stock outstanding, and the book value per share following each successive transaction. Organize your solution as a three-column schedule with these separate column headings: (1) "Total Stockholders' Equity," (2) "Number of Shares Outstanding," and (3) "Book Value per Share."
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