Bakersfield Semiconductor Corporation Stockholders' Equity January 1, 2019 Common Stock At Par: $10 par value, 5,000,000 shares authorized, 1,000,000 shs, issued Paid-in Capital in Excess of Par Value, Total Contributed Capital Retained Earnings Total Stockholders' Equity $ 10,000,000 25,000,000 35,000,000 20,000,000 $ 55,000,000 Baker Semiconductor Corporation (BSC) balance sheet on January 1, 2019 contained the shareholders' equity section shown above. The following equity transactions occurred sequentially 2019 (i.e., event ii. followed event i, event iii followed event ii, and so on): i. Sold an additional 500,000 shares of authorized common stock at $50 per share to a hedge fund. ii. Purchased 100,000 treasury shares at $55 per share. iii. Declared a 2-for-1 stock split, increased authorized shares to 10,000,000, and reduced par value of the common Stock to $5 per share. iv. Declared a 10% stock dividend. The price of BSC stock on this day was $30 a share. v. Declared and paid a cash dividend of $2.00 per share. vi. Sold 100,000 treasury shares at $37.50 per share. vii. Reported net income for the year ended December 31, 2019, of $4,000,000. Required: For each of the above transactions, determine the dollar amount and effect on the following: (i) Common Stock at Par, (ii) Paid in Excess of Par, (iii) Retained Earnings, (iv) Treasury Stock, (v) Total Stockholders' Equity, (vi) Shares Issued, and (vii) Shares Outstanding. Use "P" to indicate increases and "_" for a decreases in the balances. Enter your answers in the attached SOLUTION TEMPLATE. You may download and print the pdf attachment and enter your calculations and answers by hand. Scan it and upload it when done. Alternatively, you may enter your calculations and answers directly in the attached Word or rtf document and upload it when done. Bakersfield Semiconductor Corporation Stockholders' Equity January 1, 2019 Common Stock At Par: $10 par value, 5,000,000 shares authorized, 1,000,000 shs, issued Paid-in Capital in Excess of Par Value, Total Contributed Capital Retained Earnings Total Stockholders' Equity $ 10,000,000 25,000,000 35,000,000 20,000,000 $ 55,000,000 Baker Semiconductor Corporation (BSC) balance sheet on January 1, 2019 contained the shareholders' equity section shown above. The following equity transactions occurred sequentially 2019 (i.e., event ii. followed event i, event iii followed event ii, and so on): i. Sold an additional 500,000 shares of authorized common stock at $50 per share to a hedge fund. ii. Purchased 100,000 treasury shares at $55 per share. iii. Declared a 2-for-1 stock split, increased authorized shares to 10,000,000, and reduced par value of the common Stock to $5 per share. iv. Declared a 10% stock dividend. The price of BSC stock on this day was $30 a share. v. Declared and paid a cash dividend of $2.00 per share. vi. Sold 100,000 treasury shares at $37.50 per share. vii. Reported net income for the year ended December 31, 2019, of $4,000,000. Required: For each of the above transactions, determine the dollar amount and effect on the following: (i) Common Stock at Par, (ii) Paid in Excess of Par, (iii) Retained Earnings, (iv) Treasury Stock, (v) Total Stockholders' Equity, (vi) Shares Issued, and (vii) Shares Outstanding. Use "P" to indicate increases and "_" for a decreases in the balances. Enter your answers in the attached SOLUTION TEMPLATE. You may download and print the pdf attachment and enter your calculations and answers by hand. Scan it and upload it when done. Alternatively, you may enter your calculations and answers directly in the attached Word or rtf document and upload it when done
