The balance sheet of Goldstein Management Consulting, Inc. at December 31, 2023, reported the following stockholders’ equity:

During 2024, Goldstein completed the following selected transactions:

Requirements
1. Record the transactions in the general journal.
2. Prepare a retained earnings statement for the year ended December 31, 2024. Assume Goldstein’s net income for the year was $90,000.
3. Prepare the stockholders’ equity section of the balance sheet at December 31, 2024.

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Stockholders' Equity Paid-In Capital: Common Stock-$10 Par Value; 350,000 shares authorized, 32,000 shares issued and outstanding Paid-In Capital in Excess of Par-Common Total Paid-In Capital Retained Earnings Total Stockholders' Equity $ 320,000 330,000 650,000 160,000 $ 810,000