STATEMENT OF STOCKHOLDERS’ EQUITY. At the end of 19x4, Jeffco, Inc., had the following equity accounts and balances:

During 19x5 Jeffco engaged in the following transactions involving its equity accounts:

a) Sold 2,900 shares of common stock for $41 per share.

b) Sold 1,500 shares of 12%, $100 par preferred stock at $102 per share.

c) Declared and paid cash dividends of $11,500.

d) Purchased 1,000 shares of treasury stock (common) for $45 per share.

e) Sold 600 of the treasury shares for $43 per share.
REQUIRED:
Assume that 19x5 net income was $51,300. Prepare a statement of stockholders’ equity at December 31, 19x5.

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Common stock, $20 par $410,000 Paid-in capital in excess of par, common stock 381,400 Retained earnings 102,470