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Account Balances for Year 1 Balance Common Stock, At Par $20,000 Income Taxes Payable $164,000 Treasury Stock $40,000 Long-Term Deut $500,000 Paid-In Capital from
Account Balances for Year 1 Balance Common Stock, At Par $20,000 Income Taxes Payable $164,000 Treasury Stock $40,000 Long-Term Deut $500,000 Paid-In Capital from Treasury $104,000 Stock Paid-In Capital in Excess of Par- $400,000 Common Prepaid Expenses $154,000 Retained Earnings (End of the $360,000 Year) Unearned Revenue $106,000 Compute Lily Company's total stockholders' equity as of the end of Year 1. Note: All equity accounts are included in this list. However, the asset and liability accounts in the list do NOT include all of the company's asset and liability accounts. As a result, you can't use the accounting equation to compute stockholders' equity.
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