an viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing 3 The balance sheet of Harris Hats, Inc., included the following shareholders' equity accounts at December 31, 2020: Paid in Capital: Preferred stock, S10 par, 10%, 90,000 shares authorized, 70,000 $700,000 shares issued and outstanding Common Stock, S1 par, 2,000,000 shares authorized, 364,000 shares 364,000 issued APIC-PS 5,600,000 APIC-CS 5,096,000 Total Paid in Capital $11,760,000 Retained Earnings 6.782.350 Treasury stock, 4,000 shares at cost (48,000) Total Shareholders' Equity $18.494,350 During 2021, the following events and transactions occurred: On February 2nd, the board of directors declared a property dividend of 150,000 shares of Dawson Corporation common stock that Harris had purchased in January as an investment with a cost basis of $750,000. The investment shares had a fair value of 56 per share and were distributed February 28" to shareholders of record February 15m On March 154, a 3-for-1 stock split was declared and distributed. The stock split was effected in the form of a stock dividend. The market value of the S1 par common stock was $14 per share On July 5m, a 4% common stock dividend was declared and distributed. The market value of the common stock was 513 per share. On December 14, the board of directors declared the annual cash dividend of 10% on the 70,000 preferred shares, payable on December 28" to shareholders of record December 2014 On December 1, the board of directors declared a cash dividend of 0.25 per share on its common shares, payable on December 28 to shareholders of record December 200 On December 290, the company reacquired 12,000 shares of common stock at a price of S12 Net income for the year was $1.205,000 . . per share. life On July 5th, a 4% common stock dividend was declared and distributed. The market value the common stock was S13 per share. On December 14, the board of directors declared the annual cash dividend of 10% on the 70,000 preferred shares, payable on December 28th to shareholders of record December 20th On December 14, the board of directors declared a cash dividend of 80.25 per share on its common shares, payable on December 28th to shareholders of record December 2014 On December 29th, the company reacquired 12,000 shares of common stock at a price of $12 per share. Net income for the year was $1,205,000 Prepare the shareholders' equity section of the balance sheet for Harris Hats, Inc, at December 31, 2021 in good form. Make sure to appropriate title and order the information. (Please show your work. You are not required to prepare the journal entries, but if that helps you please submit the journal entries and/or scratch work/T-accounts for partial credit) ONE lip 08 6 7 8 ( 9 an viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing 3 The balance sheet of Harris Hats, Inc., included the following shareholders' equity accounts at December 31, 2020: Paid in Capital: Preferred stock, S10 par, 10%, 90,000 shares authorized, 70,000 $700,000 shares issued and outstanding Common Stock, S1 par, 2,000,000 shares authorized, 364,000 shares 364,000 issued APIC-PS 5,600,000 APIC-CS 5,096,000 Total Paid in Capital $11,760,000 Retained Earnings 6.782.350 Treasury stock, 4,000 shares at cost (48,000) Total Shareholders' Equity $18.494,350 During 2021, the following events and transactions occurred: On February 2nd, the board of directors declared a property dividend of 150,000 shares of Dawson Corporation common stock that Harris had purchased in January as an investment with a cost basis of $750,000. The investment shares had a fair value of 56 per share and were distributed February 28" to shareholders of record February 15m On March 154, a 3-for-1 stock split was declared and distributed. The stock split was effected in the form of a stock dividend. The market value of the S1 par common stock was $14 per share On July 5m, a 4% common stock dividend was declared and distributed. The market value of the common stock was 513 per share. On December 14, the board of directors declared the annual cash dividend of 10% on the 70,000 preferred shares, payable on December 28" to shareholders of record December 2014 On December 1, the board of directors declared a cash dividend of 0.25 per share on its common shares, payable on December 28 to shareholders of record December 200 On December 290, the company reacquired 12,000 shares of common stock at a price of S12 Net income for the year was $1.205,000 . . per share. life On July 5th, a 4% common stock dividend was declared and distributed. The market value the common stock was S13 per share. On December 14, the board of directors declared the annual cash dividend of 10% on the 70,000 preferred shares, payable on December 28th to shareholders of record December 20th On December 14, the board of directors declared a cash dividend of 80.25 per share on its common shares, payable on December 28th to shareholders of record December 2014 On December 29th, the company reacquired 12,000 shares of common stock at a price of $12 per share. Net income for the year was $1,205,000 Prepare the shareholders' equity section of the balance sheet for Harris Hats, Inc, at December 31, 2021 in good form. Make sure to appropriate title and order the information. (Please show your work. You are not required to prepare the journal entries, but if that helps you please submit the journal entries and/or scratch work/T-accounts for partial credit) ONE lip 08 6 7 8 ( 9