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I need to create a blance sheet for this question! On January 1, 2020, the Kingbird, Inc. had $2,560,000 of $10 par value common stock
I need to create a blance sheet for this question!
On January 1, 2020, the Kingbird, Inc. had $2,560,000 of $10 par value common stock outstanding that was issued at par and Retained Earnings of $1,240,000. The company issued 145,000 shares of common stock at $16 per share on July 1. On December 15, the board of directors declared a 10% stock dividend to stockholders of record on December 31, 2020, payable on January 15, 2021. The market value of Kingbird, Inc. stock was $17 per share on December 15 and $18 per share on December 31. Net income for 2020 was $620,000. KINGBIRD, INC. Balance Sheet (Partial) Step by Step Solution
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