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Cheyenne Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2017, the following accounts were
Cheyenne Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2017, the following accounts were included in stockholders equity.
Preferred Stock, 137,800 shares | $ 2,756,000 | |
Common Stock, 2,014,000 shares | 10,070,000 | |
Paid-in Capital in Excess of ParPreferred Stock | 199,000 | |
Paid-in Capital in Excess of ParCommon Stock | 26,771,000 | |
Retained Earnings | 4,429,000 |
The following transactions affected stockholders equity during 2018.
Jan. 1 | 30,900 shares of preferred stock issued at $24 per share. | |
Feb. 1 | 50,100 shares of common stock issued at $21 per share. | |
June 1 | 2-for-1 stock split (par value reduced to $2.50). | |
July 1 | 32,700 shares of common treasury stock purchased at $10 per share. Cheyenne uses the cost method. | |
Sept. 15 | 9,400 shares of treasury stock reissued at $11 per share. | |
Dec. 31 | The preferred dividend is declared, and a common dividend of 46 per share is declared. | |
Dec. 31 | Net income is $2,093,000. |
Prepare the stockholders equity section for Cheyenne Company at December 31, 2018.
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