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On January 1, 2022, Shamrock, Inc. had these stockholders equity balances. Common Stock, $1 par (2,600,000 shares authorized, 680,000 shares issued and outstanding) $680,000 Paid-in
On January 1, 2022, Shamrock, Inc. had these stockholders equity balances.
Common Stock, $1 par (2,600,000 shares authorized, 680,000 shares issued and outstanding) | $680,000 | |
Paid-in Capital in Excess of Par Value | 1,480,000 | |
Retained Earnings | 694,000 | |
Accumulated Other Comprehensive Income | 58,000 |
During 2022, the following transactions and events occurred.
1. | Issued 49,000 shares of $1 par value common stock for $2 per share. | |
2. | Issued 63,000 shares of common stock for cash at $3 per share. | |
3. | Purchased 16,500 shares of common stock for the treasury at $3.00 per share. | |
4. | Declared and paid a cash dividend of $174,000. | |
5. | Earned net income of $385,500. | |
6. | Had other comprehensive income of $18,200. |
Prepare the stockholders equity section of the balance sheet at December 31, 2022.
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