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On January 1, 2017 a company had the following shareholders' equity: (Click the icon to view the shareholders' equity.) On January 4, the company purchased
On January 1, 2017 a company had the following shareholders' equity: (Click the icon to view the shareholders' equity.) On January 4, the company purchased 14,000 shares of its common stock for $37 per share. On June 30, the company declared a $2.60 per share dividend to be paid on July 7. Net income for the year amounted to $282,000. Below, complete the stockholders' equity section of the company's balance sheet on December 31, 2017. Stockholders' Equity Balance Total Contributed Capital Common Stock, $5 par (500,000 shares authorized, 875,000 175,000 shares issued and outstanding) 2$ Additional Paid-in Capital in Excess of Par - Common 320,000 820,000 Retained Earnings 2,015,000 Total Stockholders' Equity
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