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On January 1, 2022, Larkspur, Inc. had these stockholders' equity balances Common Stock, $1 par (2,200,000 shares authorized, 645,000 shares issued and outstanding) $645,000 Paid-in
On January 1, 2022, Larkspur, Inc. had these stockholders' equity balances Common Stock, $1 par (2,200,000 shares authorized, 645,000 shares issued and outstanding) $645,000 Paid-in Capital in Excess of Par Value 1,420,000 Retained Earnings 708,000 Accumulated Other Comprehensive Income 63,000 During 2022, the following transactions and events occurred. Issued 48,500 shares of $1 par value common stock for $3 per share. 1. Issued 57,500 shares of common stock for cash at $5 per share. 2. Purchased 15,600 shares of common stock for the treasury at $3.25 per share. 3. Declared and paid a cash dividend of $137,500. 4. Earned net income of $357,000. 5. Had other comprehensive income of $19,600. 6. Prepare the stockholders' equity section of the balance sheet at December 31, 2022. LARKSPUR, INC. Partial Balance Sheet December 31, 2022 Stockholders' Equity Paid-in Capital $ Common Stock Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Common Stock Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Accumulated Other Comprehensive Income Treasury Stock Less $ Total Stockholders' Equity
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