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On January 1, 2022, Metlock, Inc. had these stockholders' equity balances. Common Stock, $1 par (2,000,000 shares authorized, 610,000 shares issued and outstanding) $610,000
On January 1, 2022, Metlock, Inc. had these stockholders' equity balances. Common Stock, $1 par (2,000,000 shares authorized, 610,000 shares issued and outstanding) $610,000 Paid-in Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Income 1,430,000 690,000 65,000 During 2022, the following transactions and events occurred. 1. Issued 46,500 shares of $1 par value common stock for $3 per share. 2. Issued 55,000 shares of common stock for cash at $3 per share. 3. Purchased 19,300 shares of common stock for the treasury at $3.20 per share. 4. Declared and paid a cash dividend of $125,500. 5. Earned net income of $429,000. 6. Had other comprehensive income of $17,000. Prepare the stockholders' equity section of the balance sheet at December 31, 2022.
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