P5-4 Preparing a Statement of Stockholders Equity LO5-3 At the end of the prior year annual reporting period, Banard Corporation's balance sheet showed the following BARNARD CORPORATION Balance Sheet At December 31, Prior Year Stockholders' equity Contributed capital Common stock (par $15, 6,500 shares) Paid-in capital Total contributed capital $ 97,500 16,000 113,500 40,000 $153,500 Retained earnings Total stockholders' equity During the current year, the following selected transactions (summarized) were completed: a. Sold and issued 1,400 shares of common stock at $25 cash per share (at year-end). b. Determined net income, $44,000 c. Declared and paid a cash dividend of $4 per share on the beginning shares outstanding Required Prepare a statement of stockholders' equity for the year ended December 31, current year. BARNARD CORPORATION Statement of Stockholders' Equity Common Stock Total Paid-in Capital Retained Earnings Stockholders Shares Amount Equ Balances as of December 31, prior year Balances as of December 31, current year