1. Prepare
2. General journal, General ledger, and New Stockholder's equity   

STOCKHOLDERS EQUITY (as of 1/1/21) Contributed Capital: Common Stock, $5 Par, 500,000 shrs authorized, 120,000 shrs issued and outstanding..... Paid-In Capital in Excess of Par - Common Stock Total Contributed Capital. Retained Earnings.... Total Stockholder's Equity... 10-Jan Board of director's declared a $.60/share (60 cents) cash dividend payable on February 10th to the February 1st stockholders of record. 10-Feb Paid the cash dividends declared on January 10th. 6-Jun 1-Sep 600,000 350,000 950,000 750,000 1,700,000 Issued 20,000sh of common stock for cash at $8 per share. Board of director's declared a $.70/share (70 cents) cash dividend payable on October 1st to the September 15th stockholders of record. 1-Oct Paid the cash dividends declared on September 1st. 31-Dec Closed Income Summary into Retained Earnings. Net income for the year was $250,000.