A company designs and produces a line of golf equipment and golf apparel. The company has 100,000 shares of common stock outstanding as of the beginning of 2024. The company has the following transactions affecting stockholders' equity in 2024. March 1 May 10 Issues 57,000 additional shares of $1 par value common stock for $54 per share. Purchases 5,200 shares of treasury stock for $57 per share. Declares a cash dividend of $1.60 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,600 shares of treasury stock purchased on May 10 for $62 per share. The company has the following beginning balances in its stockholders' equity accounts on January 1, 2024: Common Stock, $100,000; Additional Paid-in Capital, $4,700,000; and Retained Earnings, $2,200,000. Net income for the year ended December 31, 2024, is $620,000. Required: Prepare the statement of stockholders' equity for the company for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Payment of cash dividends Resell treasury stock Net income Balance, December 31 Common Stock $ A COMPANY Statement of Stockholders' Equity For the Year Ended December 31, 2024 Additional Paid-in Capital 4,700,000 3,021,000 $ 100,000 $ 57,000 157,000 13,000 7,734,000 $ Retained Earnings 2,200,000 $ (242,880) Treasury Stock 620,000 2,577,120 0 $ 296,400 Total Stockholders' Equity (148,200) 148,200 7,000,000 3,078,000 (296,400) (242,880) 161,200 620,000 $ 10,616,320

A compaty desigrs and produces a lice of goet equlpment and goif apparet. The campany has too,ooo shares of cortmon stckek. het peid on creanary wtoek- -1 The company has the following beginning balances in its stockholders equity accounts on January 1, 2024: Common Stock, \$100,000; Additional Pald-in Capital, 54700,000 : and Retsined Earnings, 52,200,000. Net income for the year ended Decermber 31, 2024, is 5620.000. Required: Prepare the statement of stockholders' equity for the company for the year ended December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)