C8-4

The following information pertains to Ming Corp. at January 1, 2018: Common stock, $11 par, 39,000 shares authorized, 2,600 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $ 28,600 142, 100 142,100 Ming Corp. completed the following transactions during 2018: 1. Issued 2200 shares of $11 par common stock for $16 per share. 2. Repurchased 1,800 shares of its own common stock for $19 per share. 3. Resold 1,080 shares of treasury stock at $21 per share. 4. Earned $60,500 of cash revenues. 5. Paid $34,550 of cash operating expenses. Required Prepare the stockholders' equity section of the year-end balance sheet. MING CORPORATION Balance Sheet (Partial) As of December 31, 2018 Stockholders' Equity Common stock Paid-in capital in excess of par-common stock Paid-in capital in excess of cost-treasury stock $ 0 Total paid-in capital Retained earnings Less: Treasury stock Total stockholders' equity $ 0