12 !!! Wifi AaBbc1) AaBbCcD AaBbt 1 Normal No Spac Heading 1 Editing - ' A 2! Paragraph Styles On December 31, 2021, Peabody Company had 820,000 shares of $10 par common stock issued and outstanding. At that date, stockholders' equity had the amounts listed below: Account Common Stock ($5 par value) Additional paid in capital: C/S Retained Earnings Amount $8,200,000 2,460,000 1,600,000 During 2022 the following transactions occurred: January 18: Issued 80,000 shares of $100 par value, 7% cumulative preferred stock for $107. Date Account Titles and Explanation Ref Debit Credit 1/18 Cash 160,000,000 Preferred stock 100,000,000 Paid in capital in excess of par 60,000,000 value-preferred stock 1,600,000x100 March 23; Purchased 20,000 shares of treasury stock for $15 per share. Date Account Titles and Explanation Ref Debit Credit 3/23 Treasury Stock 300,000 Cash 300,000 20,000x15 May 15: Declared a cash dividend on preferred stock payable on June 12 to stockholders of record on May 31, Date Account Titles and Explanation Ref Debit Credit 5/15 Cash Dividend 7,000,000 Dividend Payable 7,000,000 100,000,000x7% Dan O Styles Voice Sensitivity Editor June 8: Declared a cash dividend on common stock of $2.00 per share payable on July 10 to stockholders of record on July 1. Date Account Titles and Explanation Rer Debit Credit 6/8 Cash Dividend 320,560,000 Dividend payable 320,560,000 (160,300,000-20,000)x2.00 July 10: Paid both preferred and common stock dividends. Date Account Titles and Explanation Ref Debit Credit December 31: Net income for the year was $2,900,000. Date Account Titles and Explanation Ref Debit Credit Oecember 31: Closed dividend account into Retained Earnings. Date Account Tities and Explanation Ref Debit Credit PIS CR APIC: P/S CR RE CR DR DR DR C/S CR APIC: CIS CR TIS CR DR DR DR Drom 01 w BOB PM 2/21/2021 W Peabody Corporation Partial Balance Sheet December 31, 2022 Stockholders' equity: Paid-In capital: Capital stock: 7% Preferred stock, $100 par value Common stock, $10 par value Total capital stock Additional paid-in capital: In-excess of par value-preferred stock In-excess of stated value-common stock Total additional paid-in capital Total paid-in capital Retained Earnings Total paid-in capital and retained earnings Less: Treasury stock-common Total stockholders' equity