On January 1, 2017, Kimbel, Inc. had these stockholders' equity balances. Common Stock, $1 par (2,000,000 shares authorized, 600,000 shares issued and outstanding) Paid-in Capital in Excess of par value Retained Earnings Accumulated Other Comprehensive Income $600,000 1,500,000 700,000 60,000 During 2017, the following transactions and events occurred Issued 50,000 shares of $1 par value common stock for $3 per share. Issued 60,000 shares of common stock for cash at $4 per share. Purchased 20,000 shares of common stock for the treasury at $3.80 per share. 4. Declared and paid a cash dividend of $207,000. Earned net income of $410,000. Had other comprehensive income of $17,000. 6 Instructions Prepare the stockholders' equity section of the balance sheet at December 31, 2017 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" KIMBEL INC Partial Balance Sheet December 31, 2017 Stockholders' equity Paid-in capital Common stock, $1 par value, 2,000,000 shares authorized, 710,000 shares issued, and 690,000 shares outstanding Additional paid-in capital Value Paid-in capital in excess of par value- common stock Value Total paid-in capital Value Retained earnings Total paid-in capital and retained earnings Value Value Accumulated other comprehensive income Less: Treasury stock-common (20,000 shares) Total stockholders' equity 3 After you have completed P11-6A, consider this additional question. 4 Assume that the number of shares issued in (1) and (2) changed to 55,000 and 70,000 respectively. Show the impact of these changes orn the stockholders' equity section of the balance sheet