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create the Equity section of the balance sheet for KLC Company. Using the given balances to calculate the effects of some equity transactions and provide
create the Equity section of the balance sheet for KLC Company. Using the given balances to calculate the effects of some equity transactions and provide the ending balances.
For the year ended 12/31/2019, calculate the numbers that would be reported to us in the equity section given the following information: Preferred Stock Common Stock Additional Paid-In Capital Retained Earnings Treasury Stock AOCI Noncontrolling Interest Total Equity 12/31/18 $80,000 115,000 370,000 950,000 (210,000) 40,000 20,000 $1,365,000 1. During the year 2019, the company issued the following preferred stock at par: Par Value $6.00 New shares issued 1,200 2. During the year 2019, the company had the following common stock transactions: Par Value per share $2.00 # of new shares issued 5,000 Issue Price of new shares $26.00 Dividends paid this year $70,000 Stock repurchased $30,000 3. During the year 2019, the company had net income available to common shareholders (i.e. net of preferred dividends) for the year of: $425,000 4. At the beginning of the year 2019, the company owned "available for sale" securities worth $150,000. At the end of the year, the securities were worth: $180,000. 5. During the year 2019, the company purchased 70% of another company with assets of $800,000 and liabilities of $250,000. Consider only the impact of noncontrolling interest and ignore the impact on other accounts
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