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Bruno Company was incorporated as a new business in January. The company is authorized to issue 600,000 shares of $2 par value common stock and
Bruno Company was incorporated as a new business in January. The company is authorized to issue 600,000 shares of $2 par value common stock and 80,000 shares of 6%, $10 par value preferred stock. a. In February, the company sold 70,000 shares of common stock for $10 per share b. In February, the company also sold 10,000 shares of preferred stock for $25 per share. c. Net income for the year was $85,000. d. Dividends of $35,000 were distributed to the stock owners. Bruno Inc. Statement of Changes in Owner's Equity For the Year Ended December 31, 2018 (in Dollars) Stockholders' Equity: Contributed Capital: Common stock Preferred stock Additional paid-in capital, common stock Additional paid-in capital, preferred stock Total contributed capital Retained earnings Net Income Dividend Total Retained Earnings Total stockholders' equity $ $ $ $ $ $ $ $ $ (Please show all calculations)
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