Eugene Inc.s statement of stockholders equity on December 31, 2019 is as follows:
6% cumulative preferred stock, $85 par,10,000 shares authorized; 6,000 shares issued and outstanding										$0
Common stock, $1 par, 500,000 share authorized; 400,000 shares issued and outstanding										4,00,000
Paid-in capital in excess of par - Preferred stock										30,000
Paid-in capital in excess of par - Common stock										15,00,000
Retained earnings										3,50,000
Total stockholders equity										$22,80,000
The following transactions occurred during 2020:
28 Feb Issued 2,000 shares of preferred stock for $85 per share.
5 May - Issued 40,000 shares of common stock for $12.50 per share.
12 July - Repurchased 10,000 shares of common stock at $12.50 per share.
20 November - Sold 7,500 shares of treasury stock bought on July 12 for $20 per share.

a. Use the financial statement effects template, below, to record these transactions. (NOT NEEDED)
b. Prepare the December 31, 2020, stockholders equity section of the balance sheet assuming the company reports 2017 net income of $250,000 (ASKING FOR THIS)
										Question 3 c. Determine Eugenes basic Earning Per Share for fiscal 2017

(ASKING FOR THIS)