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Need help with filling out balance sheet Exercise 10-8 (Algo) Prepare the stockholders' equity section (LO10-7) For Feet's Sake has two classes of stock authorized:
Need help with filling out balance sheet
Exercise 10-8 (Algo) Prepare the stockholders' equity section (LO10-7) For Feet's Sake has two classes of stock authorized: 7%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,600 shares of comnon stock for $27 per share. February 6 Issues 2,20 shares of 7% preferred stock for $13 per share. September 10 Purchases 12,600 shares of its own common stock for $32 per share. December 15 Resells 6,600 shares of treasury stock at $37 per share. In its first year of operations, For Feet's Sake has net income of $152,000 and pays dividends at the end of the year of $94,000 ( $1 per share) on all common shares outstanding and $1,540 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for For Feet's Sake as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) FOR FEET'S SAKE Balance Sheet (Stockholders' Equity Section) December 31, 2024 \begin{tabular}{|l|l|} \hline Stockholders' equity: & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total paid-in capital & \\ \hline & \\ \hline & \\ \hline & \\ \hline Total stockholders' equity & \\ \hline \end{tabular} Step by Step Solution
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