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PLEASE FILL OUT THE ENTIRE BALANCE SHEET! Steven Tandy Company reported the following balances at December 31, 2019: common stock $525,000; paid-in capital in excess
PLEASE FILL OUT THE ENTIRE BALANCE SHEET!
Steven Tandy Company reported the following balances at December 31, 2019: common stock $525,000; paid-in capital in excess of par-common stock $205,000; retained earnings $330,000. During 2020 , the following transactions affected stockholder's equity. 1.Issued preferred stock with a par value of $210,000 for $235,000. 2.Purchased treasury stock (common) for $69,000. 3.Earned net income of $250,000. 4.Declared and paid cash dividends of $87,000 ( $17,345 preferred)Step by Step Solution
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