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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $640 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 $640 were declared at the end of the year, and 620 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,480 in cash (for a total at the end of the year of 810 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,670 Accounts receivable 2,270 Interest receivable 250 Prepaid insurance 1,640 Long-term notes receivable 2,850 Equipment 15,300 Accumulated depreciation $ 2,840 Accounts payable 2,230 Dividends payable 640 Accrued expenses payable 3,790 Income taxes payable 2,610 Unearned rent revenue 460 Common Stock (810 shares) 81 Additional paid-in capital 3,509 Retained earnings 3,220 Sales revenue 36,850 Interest revenue 110 Rent revenue 620 Wages expense 18,200 Depreciation expense 1,750 Utilities expense 360 Insurance expense 800 Rent expense 9,100 Income tax expense 2,770 Total $ 56,960 $ 56,960 minus Prepare a statement of stockholders' equity for the current year. (Reductions in account balances should be indicated with sign.) CATENA'S MARKETING COMPANY Statement of Stockholders' Equity Balance, January 1 Contributed capital Total Common Additional Retained Stockholders' Stock Paid-in Capital Earnings Equity $ 31/ s 1,609 $ 4,400 $ 6,040 50 1,950 2,000 4,660 4,660 Balance, December 31
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