Question
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $180,000; Additional Paid-In Capital, $3,025,000; and Retained Earnings, $12,900,000. During June,
Noric Cruises Inc. began the month of October with the following balances: Common Stock, $180,000; Additional Paid-In Capital, $3,025,000; and Retained Earnings, $12,900,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $18 per share. Noric reported the following results for the month ended October 31: Net income $2,150,000 Cash dividends declared 455,000 Prepare a statement of stockholders equity for the month ended October 31. If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.
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