1 Netto Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1 follows: et preferred stock 5100 pr. 20.000 shares authorized shreed and outstand 500.000 stock 515 100.000 shares authorized shrested and outstanding 600.000 cotiliness of pur value preferred stock 24.000 Pada capital in excess of our value common stock 360,000 325000 Stockholders Euty $1,809,000 The following transactions, among others, occurred during the year: 12 Announced a3 for common stock split, reducing the par value of the common stock to $5 per share. The authorization was in 31 Converted 542.000 face value of convertible bonds payable (the book value of the bonds was 546.000) to common stock. Each 51 Acquired equipment with a fair market value of $60,000 in exchange for 600 shares of preferred stock. Acquired 10.000 shares of common stock for cash at 516 per share be 12 Sold 1 500 treasury shares at 518 per share 21 ssued 5.000 shares of common stock at 513 per share. Dec 28 Sold 1 200 treasury shares at 514 per share 31 Closed net income of 585.000 to the Retained Earnings account 1 Netto Stockholders' Equity: Transactions and Balance Sheet Presentation The stockholders' equity of Summit Corporation at January 1 follows: et preferred stock 5100 pr. 20.000 shares authorized shreed and outstand 500.000 stock 515 100.000 shares authorized shrested and outstanding 600.000 cotiliness of pur value preferred stock 24.000 Pada capital in excess of our value common stock 360,000 325000 Stockholders Euty $1,809,000 The following transactions, among others, occurred during the year: 12 Announced a3 for common stock split, reducing the par value of the common stock to $5 per share. The authorization was in 31 Converted 542.000 face value of convertible bonds payable (the book value of the bonds was 546.000) to common stock. Each 51 Acquired equipment with a fair market value of $60,000 in exchange for 600 shares of preferred stock. Acquired 10.000 shares of common stock for cash at 516 per share be 12 Sold 1 500 treasury shares at 518 per share 21 ssued 5.000 shares of common stock at 513 per share. Dec 28 Sold 1 200 treasury shares at 514 per share 31 Closed net income of 585.000 to the Retained Earnings account