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On January 1, 2022, Wildhorse Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 63,000 shares issued and outstanding) $1,512,000 Paid-in
On January 1, 2022, Wildhorse Corporation had the following stockholders' equity accounts. Common Stock ($24 par value, 63,000 shares issued and outstanding) $1,512,000 Paid-in Capital in Excess of Par-Common Stock 206,000 Retained Earnings 636,000 During the year, the following transactions occurred. Feb. 1 Declared a $2 cash dividend per share to stockholders of record on February 15, payable March 1. Mar. 1 Paid the dividend declared in February. Apr. 1 Announced a 2-for-1 stock split. Prior to the split, the market price per share was $40. July 1 31 Dec. 1 31 Declared a 15% stock dividend to stockholders of record on July 15, distributable July 31. On July 1, the market price o the stock was $14 per share. Issued the shares for the stock dividend. Declared a $0.30 per share dividend to stockholders of record on December 15, payable January 5, 2023. Determined that net income for the year was $326,500.
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