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5. Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2010: Common Stock, $10 par, 50,000 shares authorized, 20,000
5. Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2010: Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued.. Paid-in Capital in Excess of Par Value, Common......... Retained Earnings... Treasury Stock, 1,000 shares Total stockholders' equity.. The following transactions occurred during 2011: February 3 May 10 October 12 $200,000 250,000 500,000 (20,000) $930,000 Sold and issued 3,000 shares of common stock for $22 per share. Declared a $0.50 per share dividend on common stock. Sold 500 shares of the treasury stock for $20 per share. December 31 Net income for the year was determined to be $75,000. Based on the above information, prepare a statement of stockholders' equity for 2011. Use the form below. Marble Corporation Statement of Stockholders' Equity December 31, 2011 Balance, December 31, 2010 Balance, December 31, 2011 Paid-in Capital in Excess of Common Par Value, Retained Stock Common $200,000 $250,000 Earnings $500,000 Treasury Stock Total Equity $(20,000) $930,000
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