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how do i do this? Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions

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Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $35 per share. February 6 Issues 3,000 shares of es preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $40 per share. December 15 Resells 5,500 shares of treasury stock at $45 per share. In its first year of operations. Finishing Touches has net income of $160,000 and pays dividends at the end of the year of $94,500 ($1 per share on all common shares outstanding and $2,400 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) ces FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity Total paid in capital 0 Total stockholders equity $ 0 March May June Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021. 1 ts 65,000 additional shares of $1 par value common stock for $62 per share. 10 Purchases 6,000 shares of treasury stock for $65 per share. 1 Declare a cash dividend of 62.00 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 tesells 3,000 shares of treasury stock purchased on May 10 for $70 per share. July Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2021 Common Stock. $100,000, Additional Pald.in Capital, $5,500,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2021, is $700,000 Required: Prepare the statement of stockholders equity for Power Drive Corporation for the year ended December 31, 2021 (Amounts to be deducted should be indicated by a minus sign.) POWER DRIVE CORPORATION Statement of Stockholders' Equity For the Year Ended December 31, 2021 Additional Retained Common Stock Total Pald-In Capital Earnings Treasury Stock Stockholders Equity $ 100,000 $ 5,500,000 $ 3.000.000 $ 0 $ 8,600,000 Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock Net income Balance, December 31 $ 100,000 5,500,000 3,000,000 05 8,600,000

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