3 Part 3 of 4 0.4 oints eBook 101 Hint Print References ! Required information [The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,400 shares of common stock for cash at $24 per share. b. Issued 2,400 shares of common stock for cash at $27 per share. 3. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $200. INCENTIVE CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Common Stock Additional Paid-In Capital, Common Stock Total Contributed Capital Retained Earnings Total Stockholders' Equity $ 0 0

Required information [The following information applies to the questions displayed below] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: a. Issued 6,400 shares of common stock for cash at $24 per share. b. Issued 2,400 shares of common stock for cash at $27 per share. Prepare the stockholders' equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected a profit of $200