On January 1, 2012, Acierno Corporation had the following stockholders equity accounts. Common Stock (no-par value, 100,000

Question:

On January 1, 2012, Acierno had the following stockholders’ equity accounts.
Common Stock (no-par value, 100,000 shares issued and outstanding).... $2,800,000
Retained Earnings.......................... 1,000,000
During the year, the following transactions occurred.
Feb. 1 Declared a $1 cash per share to stockholders of record on February 15, payable March 1.
Mar. 1 Paid the declared in February.
Apr. 1 Announced a 4-for-1 stock split. Prior to the split, the market price per share was $36.
July 1 Declared a 5% stock to stockholders of record on July 15, distributable July 31. On July 1, the market price of the stock was $13 per share.
31 Issued the shares for the stock 1 Declared a $0.50 per share to stockholders of record on December 15, payable January 5, 2013.
31 Determined that net income for the year was $700,000.
Instructions
Prepare the stockholders’ equity section of the at:
(a) March 31,
(b) June 30,
(c) September 30, and
(d) December 31, 2012.

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