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Catena's Marketing Company has the following adjusted trial balance at the end of the current year. Cash dividends of $610 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 $610 were declared at the end of the year, and 650 additional shares of common stock ($0.10 par value per share) were issued at the end of the year for $2,600 in cash (for a total at the end of the year of 820 shares). These effects are included below: Catena's Marketing Company Adjusted Trial Balance End of the Current Year Debit Credit Cash $ 1,650 Accounts receivable 2,230 Interest receivable 190 Prepaid insurance 1,600 Long-term notes receivable 2,940 Equipment 16,000 Accumulated depreciation $ 2,830 Accounts payable 2,380 Dividends payable 610 Accrued expenses payable 3,760 Income taxes payable 2,680 Unearned rent revenue 360 Common Stock (820 shares) 82 Additional paid-in capital 3,50B Retained earnings 4,090 Sales revenue 36,750 Interest revenue 190 Rent revenue 680 Wages expense 18,300 Depreciation expense 1,780 Utilities expense 320 Insurance expense 720 Rent expense 9,400 Income tax expense 2,790 Total $ 57,920 $ 57,920 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 Common Stock Additional Paid-in Capital Retained Earnings Total Stockholders' Equity Balance, January 1 Balance, December 31
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