5.4 Accounting Equation & Stock Issue Points: 4 items @ 3 points = 12 points Directions: Complete the accounting equation based on the information below. Stock Issue Activity a)Goofy Company issued 1,000 shares of $10 par common stock for $20,000. b) Goofy Company issued an additional 2,000 shares for $25 a share Goofy Company Accounting Equation Balance Sheet Income Statement Event Assets Stockholders Equity Cash + Land = Common Stock + PIC in Excess Revenue Expense = Net Income a) = 10,000 + b) $ 20,000 + Helpful Resources