Problem 15-3

Hatch Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2014, the following accounts were iHatch Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2014, the following accounts were included in stockholders equity.

Preferred Stock, 151,800 shares		$ 3,036,000
Common Stock, 2,120,000 shares		10,600,000
Paid-in Capital in Excess of ParPreferred Stock		203,700
Paid-in Capital in Excess of ParCommon Stock		27,240,000
Retained Earnings		4,547,000

The following transactions affected stockholders equity during 2015.

Jan. 1		40,300 shares of preferred stock issued at $22 per share.
Feb. 1		53,500 shares of common stock issued at $21 per share.
June 1		2-for-1 stock split (par value reduced to $2.50).
July 1		39,700 shares of common treasury stock purchased at $9 per share. Hatch uses the cost method.
Sept. 15		10,600 shares of treasury stock reissued at $11 per share.
Dec. 31		The preferred dividend is declared, and a common dividend of 55 per share is declared.
Dec. 31		Net income is $2,279,000.

Prepare the stockholders equity section for Hatch Company at December 31, 2015.