Turtle Co. had beginning retained earnings of $800,000 on January 1, 2025. During the year, Turtle Co. declared and paid $65,000 of cash dividends and earned $240,000 of net income. In addition, Turtle Co. had the following changes in its contributed capital accounts: 

Prepare a statement of stockholders’ equity for Turtle Co. for the year ending December 31, 2025.

Transcribed Image Text:

Beg. Balance Jan. 1, 2025 Issuance of common stock Common Stock Shares 300,000 80,000 Amount $ 1,500,000 400,000 Paid-In Capital in Excess of Par $ 125,000 160,000