I got 5 different answers already, so please only answer to this question if you are absolutely certain you know how to correctly prepare a statement of stockholder's equity!

PLEASE prepare the stockholder equity section in the correct format, EXACTLY as seen in the example below:

Exercise:

Early in the year Bill Barnes and several friends organized a corporation called Barnes Communications, Inc. The corporation was authorized to issue 50,000 shares of $100 par value, 10% cumulative preferred stock and 400,000 shares of $2 par value common stock. The following transactions (among others) occurred during the year:

Jan. 6 Issued for cash 20,000 shares of common stock at $14 per share. The shares were issued to Barnes and 10 other investors.

Jan. 7 Issued an additional 500 shares of common stock to Barnes in exchange for his services in organizing the corporation. The stockholders agreed that these services were worth $7,000.

Jan. 12 Issued 2,500 shares of preferred stock for cash of $250,000.

June 4 Acquired land as a building site in exchange for 15,000 shares of common stock. In view of the appraised value of the land and the progress of the company, the directors agreed that the common stock was be valued for purposes of this transaction at $15 per share.

Nov. 15 The first annual dividend of $10 per share was declared on the preferred stock to be paid December 20.

Dec. 20 Paid the cash dividend declared on November 15.

Dec. 31 After the financial statements were prepared, the net income for the year was $147,200.

a. Prepare journal entries to record the above transactions. -> i need help here too, as I had many different answers and do not know which one is correct.

b. Prepare the stockholders equity section of the Barnes Communications, Inc. balance sheet at December 31, 2016.

Statement of Stockholders' Equity Example Additional ommon Paid-in Retained Stock Capital Earnings 20,00065,000 Balance, December 31, 20x4 S 80,000 $160,000 $130,000 Issuance of stock Net income Cash dividends Stock dividends-8% Purchase of treasury stock Sale of treasury stock Balance, December 31, 20x5$108,000 $264,000 $144,000 69,000 (21,000) 8,000 26,000 (34,000) 13,000