At the beginning of January 202X, the stockholders’ equity of Hillside Corporation consisted of the following:

1. Record the transactions in general journal form.
2. Prepare the stockholders’ equity section at year-end, using the Blueprint for Success in this chapter as a guide.
3. Prepare a statement of retained earnings for the year ending December 31, 202X. Accounts are provided in the working papers that accompany this text. Be sure to put in the beginning balances.

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Paid-In Capital: Common Stock, $26 par value, authorized 47,000 shares, 12,400 shares issued and outstanding Paid-In Capital in Excess of Par Value-Common Total Paid-In Capital by Common Stockholders Retained Earnings Total Stockholders' Equity $322,400 69,000 391,400 154,000 $545,400