7.

Statement of stockholders equity

Noric Cruises Inc. began the month of October with the following balances: Common Stock, $140,000; Additional Paid-In Capital, $3,175,000; and Retained Earnings, $12,900,000. During June, Noric issued for cash 60,000 shares of common stock (with a stated value of $1) at $15 per share. Noric reported the following results for the month ended October 31:

Net income	$2,450,000
Cash dividends declared	480,000

Prepare a statement of stockholders equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.

Noric Cruises Inc. Statement of Stockholders' Equity For the Month Ended October 31

	Common Stock	Additional Paid-In Capital	Retained Earnings	Total
Balances, October 1Balances, October 31CashNet Income	$- Select -	$- Select -	$- Select -	- Select -
Balances, October 1Balances, October 31CashIssued Common Stock	- Select -	- Select -	- Select -	- Select -
Balances, October 1Balances, October 31CashNet Income	- Select -	- Select -	- Select -	- Select -
Balances, October 1Balances, October 31CashDividends	- Select -	- Select -	- Select -	- Select -
Balances, October 1Balances, October 31DividendsNet Income	$- Select -	- Select -	- Select -	- Select -