Question
Henry corp. organized on January 1, 2010. Henry Corp. has authorization for 50,000 shares a 4%, $50 preferred stock and 1,000,000 shares of $25 per
Henry corp. organized on January 1, 2010. Henry Corp. has authorization for 50,000 shares a 4%, $50 preferred stock and 1,000,000 shares of $25 per value common stock. As of December 31, 2012 it has 7,500 outstanding shares of preferred stock receiving a total of $3,975,000. Henry corp. also has 350,000 shares of common stock outstanding receiving a total of $21,000,875 Retained earnings beginning balance on December 31, 2012 was $1,350,000. During 2013 the following transactions occurred On January 15, 2013 Henry corp. sold 3,100 shares of preferred stock receiving a total of $205,000. On April 15, 2013 Henry corp. sold 40,000 shares of common stock receiving a total of $4,000,000. On October 27, 2013 Henry corp. sold 6,900 of preferred stock receiving a total of $1,035,000. On September 26, 2013 Henry corp. sold 10,000 of common stock receiving a total of $1,500,000. Net income for 2013 was $1,500,000 Preferred stock dividends paid on December 31, 2013. A common stock dividend of $2.25 was paid on December 31, 2013. Calculate the statement of stockholders equity for the year of 2013.
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