number 38

38) Moretown Company had the following transactions in 2013, its first year of operations Issued 30,000 shares of common stock Stock has par value of $1.00 per share and was issued at $18.00 per share . Earned net income of $70,000 Paid no dividends The company charter authorizes 1,000,000 shares of common stock and 100,000 shares of preferred stock Please provide the stockholders' equity section of the balance sheet at December 31, 2013. Indude information on par values, and the number of shares authorized and issued, where necessary. No subtotals are needed for total paid-in capital, but please show total stockholders equity on the bottom line. Account Par value info Shares authorized Shares issued Balance