At December 31, 2017, Gertner Corp. reported the following stockholders’ equity:

During 2018, Gertner Corp. completed these transactions and events in this order:

a. Sold 1,300 shares of treasury stock for $42 per share; the cost of these shares was  $28 per share

b. Issued 1,200 shares of common stock at $16 per share

c. Net income for the year was $231,000

d. Declared and paid cash dividends of $100,000

Requirement
Prepare Gertner’s statement of stockholders’ equity for the year ended December  31, 2018.

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Paid-in Capital: Common Stock, $5 par, 200,000 authorized, 130,000 shares issued Additional Paid-in Capital-Common Total Paid-in Capital Retained Earnings Subtotal Less: Treasury Stock, 2,100 shares at cost Total Stockholders' Equity $ 650,000 100,000 $ 750,000 370,000 $1,120,000 (58,800) $1,061,200