*P14.4A (LO 4) Financial Statement On January 1, 2020, Goodhue Inc. had the following stock- holders' equity balances. Common Stock (400,000 shares issued) Paid-in Capital in Excess of Par-Common Stock Common Stock Dividends Distributable Retained Earnings During 2020, the following transactions and events occurred. $800,000 500,000 120,000 600,000

On January 1, 2020, Goodhue Inc. had the following stock- 1. Issued 60,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2021. 2. Issued 30,000 shares of common stock for eash at $4 per share. 3. Purchased 25,000 shares of common stock for the treasury at $5 per share. 4. Declared and paid a cash dividend of $111,000. 5. Sold 8,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $360,000. Instructions Prepare a stockholders' equity statement for the year