BARNARD CORPORATION Balance Sheet At December 31, Prior Year Stockholders' equity Contributed capital Common stock (par $10; 6,800 shares) Paid-in capital Total contributed capital Retained earnings Total stockholders' equity $ 68,000 17,000 85,000 48,000 $ 133,000 During the current year, the following selected transactions (summarized) were completed: a. Sold and issued 1,100 shares of common stock at $21 cash per share (at year-end). b. Determined net income, $50,000. C. Declared and paid a cash dividend of $2 per share on the beginning shares outstanding. Required: Prepare a statement of stockholders' equity for the year ended December 31, current year. BARNARD CORPORATION Statement of Stockholders' Equity Common Stock Shares Amount 6,800 $ 68,000 Pald-in Capital Retained Earnings Total Stockholders' Equity $ 133,000 $ 17,000 $ 48,000 48,000 Balances as of December 31, prior year Add: Net income Less: Dividends declared Stock issued Balances as of December 31, current year 1,100 7,200 11,000 79,000 $ 12,100 29,100 $