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Pronghorn Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ( $5 par) $550,000, Paidin Capital in Excess of Par-Common Stock
Pronghorn Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ( $5 par) $550,000, Paidin Capital in Excess of Par-Common Stock $180,000, and Retained Earnings $100,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 7,000 shares at $8 per share. June 1 Sold 1,500 shares at $13 per share. Sept. 1 Sold 1,500 shares at $10 per share. Dec. 1 Sold 1,000 shares at $7 per share. Pronghorn Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $26,000. Mar. 1 Account Titles and Explanation Treasury Stock Cash 4.4400 Cash 18000 Treasury Stock 120 Paidin Capitalfrom Treasury Stock Sept 1: Cash 20000 TreasuryStock Paid-in Copitalfrom Treasury Stock 400 Dec1 Cash 6000 Paid-in Capital from Treasury 5tock Treasurv Stock Paid-in Cagital from Treasury Stock Dec. 1 Cash 6000 Paid-in Capital from Treasury Stock 2000 Treasury Stock Dec31v Income Summary 30000 Retained Earnings 3000 Paid-in Capital from Treasury Stock Treasury Stock Retained Earnings Prepare the stockholders' equity section for Pronghorn Corporation at December 31,2022 . (Enter the account name only and do not provide the descriptive information provided in the question)
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