Company A designs and produces a line of golf equipment and golf apparel. Company A has 100,000 shares of common stock outstanding as of the beginning of Year 1. Company A has the following transactions affecting stockholders' equity in Year 1. March 1 Issues 60,000 additional shares of $1 par value common stock for $57 per share. May June July 10 Purchases 5,500 shares of treasury stock for $60 per share. 1 Declares a cash dividend of $1.75 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) 1 Pays the cash dividend declared on June 1. October 21 Resells 2,750 shares of treasury stock purchased on May 10 for $65 per share. Company A has the following beginning balances in its stockholders' equity accounts on January 1, Year 1: Common Stock, $100,000; Additional Paid-in Capital, $5,000,000; and Retained Earnings, $2,500,000. Net income for the year ended December 31, Year 1, is $650,000. Required: Prepare the statement of stockholders' equity for Company A for the year ended December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.) Company A Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Total Common Stock Additional Paid-in Capital Retained Earnings Treasury Stock Stockholders' Equity Balance, January 1 $ Issue common stock 100,000 $5,000,000 $ 2,500,000 $ 60,000 0 $ 7,600,000 Purchase treasury stock Declare dividends Resell treasury stock Net income Balance, December 31 $ 160,000 5,000,000 2,500,000 0 7,660,000