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On December 31, 2021, Pharoah Company had 1,310,000 shares of $7 par common stock issued and outstanding. At December 31, 2021. stockholders' equity had the
On December 31, 2021, Pharoah Company had 1,310,000 shares of $7 par common stock issued and outstanding. At December 31, 2021. stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Capital Retained Earnings $9,170.000 1,715,000 1,195,000 Transactions during 2022 and other information related to stockholders' equity accounts were as follows. 1. On January 10, issued at $109 per share 124,000 shares of $101 par value, 7% cumulative preferred stock 2. On February 8, reacquired 13,600 shares of its common stock for $14 per share. 3. On May 9, declared the yearly cash dividend on preferred stock, payable June 10, to stockholders of record on May 31. 4. On June 8, declared a cash dividend of $1.75 per share on the common stock outstanding, payable on July 10, to stockholders of record on July 1. 5. Net income for 2022 was $3,582,000. Prepare the stockholders' equity section of Pharoahs' balance sheet at December 31, 2022. PHAROAH COMPANY Partial Balance Sheet For the Year Ended December 31, 2022 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Paid-in Capital in Excess of Par Value-Preferred Stock Total Paid-in Capital and Retained Earnings | Less Treasury Stock Treasury Stock Total Stockholders' Equity Total stockholders Equity
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