Question
On January 1, 2018 the Queens Company reported the following shareholders' equity: Common stock $5 (300,000 shares authorized, 100,000 shares issued and outstanding..... $500,000 Additional
On January 1, 2018 the Queens Company reported the following shareholders' equity:
Common stock $5 (300,000 shares authorized, 100,000 shares issued and outstanding..... $500,000
Additional Paid In Capital In Excess of Par ............ $200,000
Retained Earnings...........$700,000
Total Stockholders Equity............1,400,000
On January 4, the company purchased 10,000 shares of its own stock at $25 per share to be held as treasury stock. On June 30, the company declared a $2.00 per share cash dividend to be paid on July 7. Net income for the year ended December 31 amounted to $280,000.
What is the stockholders equity table including the added information above.
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