Problem 15-12 Your answer is partially correct. Try again. Coronado Company was formed on July 1, 2015. It was authorized to issue 346,400 shares af $10 par value comman stock and 101,400 shares of 7% $25 par value, cumulative and nonparticipating preferred stock. Coronado Company has a July 1-June 30 fiscal year. The following information relates to the stockholders' equity accounts of Caronada Company Common Stock Prior to the 2017-2018 fiscal year, Coronada Company hed 111,200 shares of outstanding common stack issued as follows. 1. B1,900 shares were issued for cash on July 1, 2015, at $30 per share. 2. On July 24, 2015, 5,000 shares were exchanged for a plot of land which cost the seller 566,100 in 2009 and had an estimated fair value of $220,900 on July 24, 2015. 3. 24,300 shares were issued on March 1, 2016, for $41 per share. During the 2017-2018 fiscal year, the following transactions regarding common stock took place. November 30, 2017 Coronado purchased 1,900 shares of its own stock on the open market at $37 per share. Coronado uses the cost method for treasury stock. December 15, 2017 Caranada declared a 5 stock dividend for stockholders of record on January 15, 2018, to be issued on January 31, 2019. Coronada was having a liquidity problem and could not afford a cash dividend at the time. Coronada's common stock was selling at $47 per share on December 15, 2017. June 20, 2018 Coronado sold 540 shares of its own common stock that it had purchased on November 30, 2017, for $20,100. Preferred Stock Coronado issued 43,600 shares of preferred stock at $48 per share on July 1, 2016. Cash Dividends Coronado hes followed e schedule of dedaring cash dividends in December and Jure, with payment being made to stockholders of record in the following month. The cash dividends which have been declared since inception of the corripeny through June 30, 2018, are shown below. Declaration Common Preferred Date Stock Stock 12/15/16 $0.30 per share $1 per share 5/15/17 $0.30 per share $1 per share 12/15/17 $1 per share No cash dividends were declared during June 2016 due to the company's liquidity problems. Retained Earnings As of June 30, 2017, Coronado's retained eamings account had a balance of $657,300. For the fiscal year ending June 30, 2018, Coronado reported net income of $38,100. Prepare the stockholders' equity section of the balance sheet, for Coronado Company as of June 30, 2019, as it should appear in its annual report to the shareholders. (Enter account name only and do not provide descriptive information.) CORONADO COMPANY Stockholders' Equity June 30, 2018 Capital Stock Preferred Stock 2092800 Common Stock 1098400 Total Capital Stock 3191200 7 Additional Paid-in Capital Paid-in Capital in Excess of Par - Common Stock I Paid-in Capital in Excess of Par - Preferred Stock ill Paid-in Capital from Treasury Stock T Total Paid-in Capital Retained Earnings pogodi T Total Paid-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity Problem 15-12 Your answer is partially correct. Try again. Coronado Company was formed on July 1, 2015. It was authorized to issue 346,400 shares af $10 par value comman stock and 101,400 shares of 7% $25 par value, cumulative and nonparticipating preferred stock. Coronado Company has a July 1-June 30 fiscal year. The following information relates to the stockholders' equity accounts of Caronada Company Common Stock Prior to the 2017-2018 fiscal year, Coronada Company hed 111,200 shares of outstanding common stack issued as follows. 1. B1,900 shares were issued for cash on July 1, 2015, at $30 per share. 2. On July 24, 2015, 5,000 shares were exchanged for a plot of land which cost the seller 566,100 in 2009 and had an estimated fair value of $220,900 on July 24, 2015. 3. 24,300 shares were issued on March 1, 2016, for $41 per share. During the 2017-2018 fiscal year, the following transactions regarding common stock took place. November 30, 2017 Coronado purchased 1,900 shares of its own stock on the open market at $37 per share. Coronado uses the cost method for treasury stock. December 15, 2017 Caranada declared a 5 stock dividend for stockholders of record on January 15, 2018, to be issued on January 31, 2019. Coronada was having a liquidity problem and could not afford a cash dividend at the time. Coronada's common stock was selling at $47 per share on December 15, 2017. June 20, 2018 Coronado sold 540 shares of its own common stock that it had purchased on November 30, 2017, for $20,100. Preferred Stock Coronado issued 43,600 shares of preferred stock at $48 per share on July 1, 2016. Cash Dividends Coronado hes followed e schedule of dedaring cash dividends in December and Jure, with payment being made to stockholders of record in the following month. The cash dividends which have been declared since inception of the corripeny through June 30, 2018, are shown below. Declaration Common Preferred Date Stock Stock 12/15/16 $0.30 per share $1 per share 5/15/17 $0.30 per share $1 per share 12/15/17 $1 per share No cash dividends were declared during June 2016 due to the company's liquidity problems. Retained Earnings As of June 30, 2017, Coronado's retained eamings account had a balance of $657,300. For the fiscal year ending June 30, 2018, Coronado reported net income of $38,100. Prepare the stockholders' equity section of the balance sheet, for Coronado Company as of June 30, 2019, as it should appear in its annual report to the shareholders. (Enter account name only and do not provide descriptive information.) CORONADO COMPANY Stockholders' Equity June 30, 2018 Capital Stock Preferred Stock 2092800 Common Stock 1098400 Total Capital Stock 3191200 7 Additional Paid-in Capital Paid-in Capital in Excess of Par - Common Stock I Paid-in Capital in Excess of Par - Preferred Stock ill Paid-in Capital from Treasury Stock T Total Paid-in Capital Retained Earnings pogodi T Total Paid-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity