On January 1, 2017, Kimbel Inc. had these stockholders' equity balances. $600,000 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 1,500,000 700,000 60,000 During 2017, the following transactions and events occurred. 1. 2. 3. 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. Declared and paid a cash dividend of $207,000. Earned net income of $410,000. Had other comprehensive income of $17,000. 4. 5. 6. Prepare the stockholders' equity section of the balance sheet at December 31, 2017 KIMBEL INC. Partial Balance Sheet Prepare the stockholders' equity section of the balance sheet at December 31, 2017. KIMBEL INC. Partial Balance Sheet tA M Layes Inc. issues 8,000 shares of $100 par value preferred stock for cash at $106 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically inde If no entry is required, select "No Entry" for the account titles and enter o for the amo Account Titles and Explanation Debit Credit Cash 848000 Preferred Stock 800000 Paid-in Capital in Excess of Par Value-Preferred Stock