Statement of stockholders’ equity Obj. 6 Noric Cruises Inc. began the month of October with the following balances: Common Stock,

$150,000; Additional Paid-In Capital, $3,225,000; and Retained Earnings, $12,400,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $16 per share.

Noric reported the following results for the month ended October 31:

Net income $2,350,000 Cash dividends declared 475,000 Prepare a statement of stockholders’ equity for the month ended October 31.

AppendixLO1