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Malard Corporation was authorized to issue 200,000 shares of $8 par common stock and 50,000 shares of $80 par, 4 percent, cumulative preferred stock. Malard Corporation completed the following transactions during its first two years of operation:

2014

Jan.	2	Issued 75,000 shares of $8 par common stock for $10 per share.
	15	Issued 22,000 shares of $80 par preferred stock for $90 per share.
Feb.	14	Issued 60,000 shares of $8 par common stock for $12 per share.
Dec.	31	During the year, earned $680,000 of cash revenues and paid $394,400 of cash operating expenses.
	31	Declared the cash dividend on outstanding shares of preferred stock for 2014. The dividend will be paid on January 31 to stockholders of record on January 15, 2015.
	31	Closed revenue, expense, and dividend accounts to the retained earnings account.

2015

Jan.

31

Paid the cash dividend declared on December 31, 2014.

Mar.

1

Issued 12,000 shares of $80 par preferred stock for $92 per share.

June

1

Purchased 5,000 shares of common stock as treasury stock at $14 per share.

Dec.

31

During the year, earned $585,000 of cash revenues and paid $339,300 of cash operating expenses.

31

Declared the dividend on the preferred stock and a $1.00 per share dividend on the common stock.

31

Closed revenue, expense, and dividend accounts to the retained earnings account.

Required

a.

Organize the transaction data in accounts under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".)

b.

Prepare the stockholders equity section of the balance sheet at December 31, 2014. (Do not round intermediate calculations)

c.	Prepare the balance sheet at December 31, 2015. (Do not round intermediate calculations.)

Required a. Organize the transaction data in accounts under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) MALARD CORPORATION Accounting Equation Liabilities + Dividends Payable Assets Stockholders' Equity Paid-In Capital in Excess Accounts Titles for etained Earnings Event Paid-In Capital Treasury Preferred Stock Common Stock Cash in Excess + Preferred StockCommon Stock StockRetained Accoun Earnings 2014 1/2 1/15 2/14 12/31 12/31 12/31 Bal 2015 Beg. bal 1/31 12/31 12/31 12/31 End. bal