4

Bay Meadows Corporation designs and produces a line of golf equipment and golf apparel. Bay Meadows has 100,000 shares of common stock outstanding as of the beginning of 2024 . Bay Meadows has the following transactions affecting stockholders' equity in 2024. March 1. Insuen 45,000 additional nharos of $1 par value common ntoek for 542 per share. May 10 Purchases 4,000 shares of treasury ntock for $45 per nhare. June 1 Deelares a cash dividend of $1.00 per thare to all stookholdern of record on June is, (Mint Dividends are not paid on treasury stook.) July 1 Pays the cash dividend declared on June 1. octobor 21 Resels 2,000 shares of treasury stock purchased on May 10 for $50 per share. The Clothing Cove has two classes of stock authorized: 7%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,000 shares of eommon stock for $21 per share. February 6 Issues 1,600 shares of 7 preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $26 per share. December 15 Resells 6,000 shares of treasury stock at $31 per share. In its first year of operations, The Clothing Cove has net income of $146,000 and pays dividends at the end of the year of $94,000 ( $1 per share) on all common shares outstanding and $1,120 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balahce sheet for The Clothing Cove as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)