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North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par

North Wind Aviation received its charter during January authorizing the following capital stock:

Preferred stock: 8 percent, par $10, authorized 20,000 shares.
Common stock: par $1, authorized 50,000 shares.

The following transactions occurred during the first year of operations in the order given:

a. Issued a total of 40,000 shares of the common stock for $15 per share.
b. Issued 10,000 shares of the preferred stock at $16 per share.
c.

Issued 3,000 shares of the common stock at $20 per share and 1,000 shares of the preferred stock at $16.

d. Net income for the first year was $48,000.

Required:

Prepare the stockholders equity section of the balance sheet at December 31.image text in transcribed

I did half of the assignment, but there're some things missing I couldn't figure it out

NORTH WIND AVIATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Preferred Stock Additional Paid-in Capital, Preferred Stock Common Stock Additional Paid-in Capital, Common Stock Total Contributed Capital Retained Earnings Total Stockholders' Equity 110,000 66,000 43,000 219,000 219,000

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