CASE STUDY 4 FOR ACG2021, 1. Prepare the stockholder?s equity section of the balance sheet for year?end 2013. SEE ATTACHMENT

Case 4 [THOMSON CORPORATION] Thomson Corporation Stockholder's Equity December 31, 2013 Common stock (40,000 authorized, 25,000 issued and outstanding with par value of $10 per share.) Excess paid in capital on common stock Retained Earnings $ 250,000.00 $ 125,000.00 $ 500,000.00 Total stockholder's equity $ 875,000.00 During the current year, Thomson had the following stock transactions: The company authorizes the sale of 10% preferred stock, 50,000 shares at par value of $50. Sold 20,000 shares of preferred stock at $75 per share. Purchased 5,000 shares of common stock at $20 per share for cash. Declared and distributed a 2% stock dividend to common stockholders when market price was $25 per share. Declared and paid $90,000 in cash dividends to common and preferred stockholders. Sold 2,000 shares of treasury stock at $16 per share. Net loss is $134,000. Required: 1. Prepare the stockholder's equity section of the balance sheet for yearend 2013. Fall 2014-1