Reporting stockholders’ equity items on statement of cash flows OBJ. 2 On the basis of the following stockholders’ equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year.

ACCOUNT Common Stock, $40 par ACCOUNT NO.

Balance Date Item Debit Credit Debit Credit 2016 Balance, 120,000 shares 30,000 shares issued for cash 4,400-share stock dividend 1

2 30 Jan.

Apr.

June 4,800,000 6,000,000 6,176,000 1,200,000 176,000 ACCOUNT Paid-In Capital in Excess of Par––Common Stock ACCOUNT NO.

Balance Date Item Debit Credit Debit Credit 2016 Balance 30,000 shares issued for cash Stock dividend 1

2 30 Jan.

Apr.

June 360,000 1,080,000 1,194,400 ACCOUNT Retained Earnings ACCOUNT NO.
Balance Date Item Debit Credit Debit Credit 2016 Balance Stock dividend Cash dividend Net income 1 30 30 31 Jan.
June Dec.
2,000,000 1,709,560 1,246,360 1,440,000 2,686,360 290,440 463,200