Question
Oriole Company has two classes of capital stock outstanding:8%, $20par preferred and $5par common. At December 31, 2017, the following accounts were included in stockholders'
Oriole Company has two classes of capital stock outstanding:8%, $20par preferred and $5par common. At December 31, 2017, the following accounts were included in stockholders' equity.
Preferred Stock,137,800shares
$2,756,000Common Stock,2,014,000shares
10,070,000Paid-in Capital in Excess of ParPreferred Stock
199,000Paid-in Capital in Excess of ParCommon Stock
26,771,000Retained Earnings
4,429,000
The following transactions affected stockholders' equity during 2018.
Jan. 1
30,900shares of preferred stock issued at $24per share.Feb. 1
50,100shares of common stock issued at $21per share.June 1
2-for-1 stock split (par value reduced to $2.50).July 1
32,700shares of common treasury stock purchased at $10per share. Oriole uses the cost method.Sept. 15
9,400shares of treasury stock reissued at $11per share.Dec. 31
The preferred dividend is declared, and a common dividend of46 per share is declared.Dec. 31
Net income is $2,093,000.
Prepare the stockholders' equity section for Oriole Company at December 31, 2018. (Enter account name only and do not provide descriptive information.)
ORIOLE COMPANY
Stockholders' Equity
$
$
:
$
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