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At December 31, 2021, Eastern Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (Click the icon to
At December 31, 2021, Eastern Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (Click the icon to view the data.) Eastern's 2022 transactions and equity related journal entries were recorded as follows: (Click the icon to view the transactions.) (Click the icon to view the equity related journal entries.) Read the requirement. Requirement 1. Prepare the stockholders' equity section of the company's balance sheet at December 31, 2022. (Enter the accounts in the proper order for the stock numbers to be subtracted. For purposes of this exercise, ignore the outstanding shares in the statement of stockholders' equity. Enter amounts in millions, except for Balance Sheet (Partial) (Millions) Requirement 1. Prepare the stockholders' equity section of the company's balance sheet at December 31, 2022. At December 31, 2021, Eastern Corporation reported the stockholders' equity accounts shown here (with dollar amounts in millions, except per-share amounts). (Click the icon to view the data.) Eastern's 2022 transactions and equity related journal entries were recorded as follows: (Click the icon to view the transactions.) I (Click the icon to view the equity related journal entries.) Read the requirement. Balance Sheet (Partial) (Millions) Stockholders' Equity: $ par, million shares Total paid-in capital More info Total stockholders' equity a. Net income, $441 million b. Issuance of 18 million shares of common stock for $14.00 per share c. Purchase of 4 million shares of treasury stock for $52 million d. Sold 1 million of the treasury shares purchased in part c for $14 million e. Declaration and payment of cash dividends of $37 million
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