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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $605 were declared at the
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $605 were declared at the end of the year, and 500 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $3,020 in cash (for a total at the end of the year of 810 shares). These effects are included below. Cash Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit $1,505 Accounts receivable 2,210 Interest receivable 102 Prepaid insurance 1,610 Long-term notes receivable 2,850. Equipment 15,390 Accumulated depreciation $3,020 Accounts payable 2,420 Dividends payable 605 Accrued expenses payable. 3,930. Income taxes payable 1,692 Unearned rent revenue 505 Common Stock (810 shares) Additional paid-in capital 81 3,630 Retained earnings 1,420 Sales revenue 38,730 Rent revenue 805 Interest revenue. 102 Wages expense 19,600 Depreciation expense 1,8201 Utilities expense 3841 Insurance expense 759 Rent expense 9,020 Income tax expense 1,690 Total $56,940 $56,940 Prepare a statement of stockholders' equity for the current year. Note: Reductions in account balances should be indicated with a minus sign. CATENA'S MARKETING COMPANY Statement of Stockholders' Equity
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