On January 1, 2020, Blossom Inc. had the following stockholders' equity balances. Common Stock (535,000 shares issued) Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings 2. 3. During 2020, the following transactions and events occurred. 4. $1,070,000 1. Issued 55,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2021. Issued 27,500 shares of common stock for cash at $4 per share. Purchased 32,000 shares of common stock for the treasury at $5 per share. Declared and paid a cash dividend of $112,000. Sold 6,000 shares of treasury stock for cash at $5 per share. Earned net income of $400,000. 5. 600,000 6. 110,000 640,000 Prepare a stockholders' equity statement for the year. (If an amount reduces the account balance then enter with negative sign preceding

Prepare a st dckhoiders' equity statement for the year. (If an amount reduces the occount balance then enter with negotive sign preceding the number es: -45 or parentheseses. (45) On January 1, 2020, Blossom Inc. had the following stockholders' equity balances. During 2020, the following transactions and events occurred. 1. Issued 55,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15,2021. 2. Issued 27,500 shares of common stock for cash at $4 per share. 3. Purchased 32,000 shares of common stock for the treasury at $5 per share. 4. Declared and paid a cash dividend of $112,000. 5. Sold 6,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $400,000. Prepare a stdckholders equity statement for the year. (ff an amount reduces the occount balance then enter with negative sign preceding the number es -45 or parentheses es. (45)