Please when posting the answer can you make sure the page doesn't cut out so i can see the full answer. Thank you
GL1101 - Based on Problem 11-2A LO C3, P2, P3 Fairhaven Company reports the following components of stockholders' equity on January 1 Common stock-$10 par value, 130,000 shares authorized Paid-in capital in excess of par value, common atdek Retained earnings Total stockholders' equity $ 500,000 75,000 410.000 5985,000 During the year, the following transactions affected its stockholders' equity accounts. 2 Purchased 5,000 shares of its own stock at 323 cash per share Jan. 5 Directors declared a 52 per share cash dividend payable on February 20 to the February 3 stockholders of record. Feb 20 Paid the dividend declared on January 5. July 6 Sold 1,900 ot its treasury shares at 527 cash per share. Aug. 22 Sold ), 100 of its treasury shares at $20 cash per share. Sept. 5 Directors declared a $2 per share cash dividend payable on October 28 to the september 25 stockholders of record Oct 28 Faid the dividend declared on September 5. Dee 31 Closed the $375,500 credit balance from net incon) in the income Summary account to Retained tarning. General General Requirement Trial Balance Statement of Stockholders Impact on Journal Ledger RE Equity Equity Prepare the Statement of Retained Earnings for Fairhaven Corporation for the year ended December 31. FAIRHAVEN CORPORATION Statement of Retained Earnings For Year Ended December 31 0 $ 0 Trial Balance Stockholders Equity > FAIRHAVEN CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common stock - $10 par value $ 500,000 Paid-in capital in excess of par value, common stock 75,000 Total contributed capital 575,000 Retained earnings 565,500 Total stockholders' equity $ 1,140,500 115,000 90,000 90,000 51,300 Impact on equity Total Stockholders' Equity - January 1 Jan. 2) Purchased 5,000 shares of its own Stockholders' equity stock at $23 cash per share. decreased Jan. 5) Directors declared a $2 per share cash Stockholders' equity dividend payable on Feb. 28 to the Feb. 5 decreased stockholders of record. Feb. 28) Paid the dividend declared on January 5. No change in total equity Jul. 6) Sold 1,900 of its treasury shares at $27 Stockholders' equity cash per share increased Aug. 22) Sold 3,100 of its treasury shares at Stockholders' equity $20 cash per share increased Sep. 5) Directors declared a $2 per share cash Stockholders' equity dividend payable on October 28 to the decreased September 25 stockholders of record. Oct. 28) Paid the dividend declared on September 5. No change in total equity Dec. 31) Closed the $375,500 credit balance Stockholders' equity (from net income) in the Income Summary increased account to Retained Earnings. Total Stockholders' Equity - as calculated on December 31 Total Stockholder's Equity as reported on Stockholder's Equity tab Unreconciled difference: 71,300 100,000 100,000 375,500 $ 993,100 $ 1.140,500 $ (147,400)
