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On January 1, 2015, Sigma Inc. had these stockholders equity balances. Common Stock, $1 par (3,000,000 shares authorized, 615,000 shares issued and outstanding) $615,000 Paid-in
On January 1, 2015, Sigma Inc. had these stockholders equity balances.
Common Stock, $1 par (3,000,000 shares authorized, 615,000 shares issued and outstanding) | $615,000 | |
Paid-in Capital in Excess of Par Value | 1,410,000 | |
Retained Earnings | 690,000 | |
Accumulated Other Comprehensive Income | 60,000 |
During 2015, the following transactions and events occurred.
1. | Issued 54,500 shares of $1 par value common stock for $2 per share. | |
2. | Issued 55,500 shares of common stock for cash at $6 per share. | |
3. | Purchased 19,600 shares of common stock for the treasury at $3.55 per share. | |
4. | Declared and paid a cash dividend of $132,000. | |
5. | Earned net income of $371,500. | |
6. | Had other comprehensive income of $18,000. |
Prepare the stockholders equity section of the balance sheet at December 31, 2017.
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