Prepare a Statement of Stockholder's Equity

Part 2 Instructions Page 2 The balances listed below are for December 31 and already include the journal entries you just prepared except for the stockholders' equity accounts. The balances listed for the stockholders' equity accounts are the January 1 balances. You will need to utilize the journal entries you just prepared to complete the Statement of Stockholders' Equity Prepare a multistep income statement, a statement of stockholders equity, and a cassified balance sheet in good form for the year ended December 31, 20X1. Use the Student Input Form (Excel File) to complete the Financial Statements Debit Credit Cash 30.000 Accounts receivable 19.000 Allowance for doubtful accounts 1.000 Equity Investments at cost 5.000 Valuation allowance for Equity Investments 500 Merchandise Inventory at lower of cost (FIFO) or market 2.000 Prepaid expenses 300 Interest receivable 200 Investment in Masco Company stock 1.500 Store buildings and equipment 30.500 Accumulated depreciation-store buildings and equipment 15,000 Accounts payable 5.990 Income tax payable 2.000 Bonds payable, 10% due in 10 years 10.000 Premium on bonds payable Retained earnings, January 1, 20X1 22,805 Cash dividends. January 1, 20X1 balance 0 Stock Dividends, January 1, 20X1 balance 0 Common stock, $10 par (100,000 shares authorized: 1100 shares 11.000 outstanding), January 1, 20X1 Paid-in capital in excess of par-common stock, January 1, 20X1 1.100 Paid-in capital from sale of treasury stock, January 1, 20X1 0 Treasury stock, January 1, 20X1 0 Sales 70.000 Gain from sale of investment 100 Unrealized gain(loss) on Equity Investments 960 Dividend revenue 80 Interest revenue 270 Income of Masco Company 2.000 Cost of goods sold 40.000 Advertising expense $1.000 Depreciation expense store buildings and equipment 700 Miscellaneous selling expenses 500 Sales commissions 2000 Office rent expense 5.000 Office salaries expense 6.000 Miscellaneous administrative expenses 100 Interest oxpense 500 Income tax expense 4.000 500 Page 6 Retained Earnings Treasury Stock Total ABC Corporation, Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20X1 (12 points) Common Stock Paid in Capital in Paid in Excess of Par. Capital from Common Stock sale of Treasury Stock Balances, January 1 0 Issued common stock Net Income Cash dividends Stock dividends Sale of treasury stock Purchase of treasruy stock Balances December 31 0 0