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Prepare the stockholders' equity section of the balance sheet for The Golden Mushroom as of December 31, 2024. (Amounts to be deducted should be indicated
Prepare the stockholders' equity section of the balance sheet for The Golden Mushroom as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) THE GOLDEN MUSHROOM Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' equity: Total paid-in capital Total stockholders' equity The Golden Mushroom has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $22 per share.. February 6 Issues 1,700 shares of 9% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $27 per share. December 15 Resells 5,500 shares of treasury stock at $32 per share. In its first year of operations, The Golden Mushroom has net income of $147,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $1,530 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for The Golden Mushroom as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) THE GOLDEN MUSHROOM Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' equity
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