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Bramble Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were
Bramble Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders equity.
Preferred Stock, 146,100 shares | $ 2,922,000 | |
Common Stock, 1,982,000 shares | 9,910,000 | |
Paid-in Capital in Excess of ParPreferred Stock | 199,000 | |
Paid-in Capital in Excess of ParCommon Stock | 26,630,000 | |
Retained Earnings | 4,454,000 |
The following transactions affected stockholders equity during 2021.
Jan. 1 | 30,100 shares of preferred stock issued at $23 per share. | |
Feb. 1 | 48,800 shares of common stock issued at $21 per share. | |
June 1 | 2-for-1 stock split (par value reduced to $2.50). | |
July 1 | 28,700 shares of common treasury stock purchased at $10 per share. Bramble uses the cost method. | |
Sept. 15 | 9,400 shares of treasury stock reissued at $11 per share. | |
Dec. 31 | The preferred dividend is declared, and a common dividend of 51 per share is declared. | |
Dec. 31 | Net income is $2,093,000. |
Prepare the stockholders equity section for Bramble Company at December 31, 2021.
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