- Boldey-Beacom College ACC207 Principles of Accounting II Assignment #3A - 2021 On December 31, 2021, Peabody Company had 820,000 shares of $10 par common stock issued and outstanding. At that date, stockholders' equity had the amounts listed below: Account Common Stock ($5 par value) Additional paid in capital: CIS Retained Earnings Amount $8,200,000 2,460,000 1,600,000 During 2022 the following transactions occurred: January 18: Issued 80,000 shares of $100 par value, 7% cumulative preferred stock for $107. Date 1/18 Ref Debit Credit Account Titles and Explanation Common stock March 23: Purchased 20,000 shares of treasury stock for 515 per share Date Account Titles and Explanation Ret Debit Credit May 15. Declared a cash dividend on preferred stock payable on June 12 to stockholders of record on May 31 Account Titles and Explanation Debit Credit Date Ret ER BE June 8: Declared a cash dividend on common stock of $2.00 per share payable on July 10 to stockholders of record on July 1. Ref Account Titles and Explanation Date Debit Credit July 10: Paid both preferred and common stock dividends. Date Account Titles and Explanation Ref Debit Credit December 31: Net income for the year was $2,900,000. Date Account Titles and Explanation Ref Debit Credit December 31: Closed dividend account into Retained Earnings. Date Account Titles and Explanation Ref Debit Credit PIS CR APIC. PIS CR RE CR DR DR DR CIS CR APIC. CIS CR TIS CR DR DR DR Peabody Corporation Partial Balance Sheet December 31, 2022 Stockholders' equity: Paid In capital: Capital stock: 7% Preferred stock, $100 par value Common stock, $10 par value Total capital stock Additional paid-in capital: In-excess of par value- preferred stock In-excess of stated value. common stock Total additional paid-in capital Total paid-in capital Retained Eamings Total paid-in capital and retained earnings Less: Treasury stock.common Total stockholders' equity