Identifying and Analyzing Financial Statement Effects of Stock-Based Compensation The stockholders' equity of Aspen Corporation at December 31, 2019, follows. 7% Preferred stock, $100 par value, 20,000 shares authorized; 2,400 shares issued and outstanding Common stock, $15 par value, 300,000 shares authorized; 18,000shares issued and outstanding $240,000 270,000 Paid-in capital in excess of par value-preferred stock 21,600 Paid-in capital in excess of par value-common stock Retained earnings 216,000 Total stockholders' equity 195,000 $942,600 The following transactions, among others, occurred during the following year. Employees exercised 7,200 stock options that were granted in 2015 and had a three-year vesting period. These options had an estimated fair value of $2 at the grant date, and an exercise price of $16. There were no other vested or unvested options after this exercise. Awarded 600 shares of stock to new executives, when the stock price was $36. Sold 6,000 shares to employees under the company-wide stock purchase plan. Under the plan, employees purchased the shares at a 10% discount when the stock price was $33 per share. Granted 24,000 new stock options, with a strike price of $34 and an estimated fair value of $6. The options vest over three years. Required Prepare the December 31, 2019, statement of stockholders' equity assuming that the company reports 2019 pretax income of $289,800 before the effects of stock-based compensation. Assume the company has a 35% tax rate. Start of year Stock options exercised Stock award Employee stock purchase Stock options granted. Net income End of year ASPEN CORPORATION Statement of Stockholders' Equity Preferred Stock Common Stock Retained Earnings Shares Issued par $100 Paid-in Capital in Excess Shares Issued Par $15 Paid-in Capital in Excess $ $ S $ $ $ $ $ $ S $ $ $