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4. Onyx Corporation had the following balances in its stockholders' equity accounts at December 31, 2014: (25 Points) Common Stock, $25 par, 100,000 shares authorized,

4. Onyx Corporation had the following balances in its stockholders' equity accounts at December 31, 2014: (25 Points)

Common Stock, $25 par, 100,000 shares authorized, 10,000 shares issued

$250,000

Contributed Capital in Excess of Par Value, Common

125,000

Retained Earnings

450,000

Treasury Stock, 2,000 shares

(60,000)

Total stockholders equity

$765,000

The following transactions occurred during 2015:

April 30

Sold and issued 5,000 shares of common stock for $32 per share.

June 11

Declared a $1.50 per share dividend on common stock.

September 22

Sold 200 shares of the treasury stock for $30 per share.

December 31

Net income for the year was determined to be $55,000

Based on the above information, prepare a statement of stockholders' equity for 2013. Use the form below.

ONYX CORPORATION

Statement of Stockholders Equity

Common Stock

Contributed Capital in Excess of Par Value, Common

Retained Earnings

Treasury Stock

Total

Balance, December 31, 2014

Net income

Balance, December 31, 2015

Please explain how you calculated the answers, thank you.

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