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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end
Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $620 were declared at the end of the year, and 690 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,760 in cash (for a total at the end of the year of 830 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,660 Accounts receivable 2,210 Interest receivable 120 Prepaid insurance 1,790 Long-term notes receivable 2,830 Equipment 15,500 Accumulated depreciation $ 2,940 Accounts payable 2,220 Dividends payable 620 Accrued expenses payable 3,810 Income taxes payable 2,530 Unearned rent revenue 440 Common Stock (830 shares) 83 Additional paid-in capital 3,507 Retained earnings 3,960 Sales revenue 37,150 Interest revenue 120 Rent revenue 680 Wages expense 18,800 Depreciation expense 1,740 Utilities expense 400 Insurance expense 760 Rent expense 9,500 Income tax expense 2,750 Total $ 58,060 $ 58,060 Prepare a statement of stockholders' equity for the current year. (Reductions in account balances should be indicated with a minus sign.) CATENA'S MARKETING COMPANY Statement of Stockholders' Equity For the current year Common Additional Stock Paid-in Capital Retained Earnings Total Stockholders Equity $ 141 691 Balance, January 1 Share issuance Dividends declared Net income Balance, December 31 $ 831
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