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Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021,300 shares of preferred

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Donnie Hilfiger has two classes of stock authorized: $1 par preferred and $0.01 par value common. As of the beginning of 2021,300 shares of preferred stock and 4,000 shares of common stock have been issued. The following transactions affect stockholders' equity during 2021: March 1 Issue 1,103 shares of comnon stock for $42 per share. Kay 15 Purchase 400 shares of treasury stock for $35 per share. July 10 Resel2 200 shares of treasury stock purchased on May 15 for $42 per share. October 15 Issue 200 shares of preferred stock for 545 per share. December 1 Declare a cash dividend on both connon and preferred stock of se.5e per share to att stockholders of record on Decenber 15. (Mint: Dividends are not paid on treasury stock.) Decenber 31 Pay the cash dividends declared on Decenber 1. Donnie Hilfiger has the following beginning balances in its stockholders' equity accounts on January 1, 2021: Preferred Stock, \$300; Common Stock, \$40; Addtional Paid-in Capital, \$76,000; and Retained Earnings, $30,500. Net income for the year ended December 31, 2021, is $10,800. Taking into consideration the beginning balances on January 1, 2021 and all the transactions during 2021, respond to the following for Donnie Hifiger: 2. Prepare the statement of stockholders' equity for the year ended December 31,2Ch1. (Amounts to be deducted should be Indicated by a minus sign.)

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