Pueblo, Inc, ended $2018$ with $8$ million shares of $$1$ par value common stock issued and

outstanding. On December $31,2018,$ additional paid$-$in capital $($APIC$)$ was $$16$ million and

retained earnings totaled $$38$ million.

In April $2019.$ Pueblo issued $6$ million shares of common stock at a price of $$3$ per share.

In June, the company declared and distributed a $1056$ stock dividend at a time when

Pueblo's common stoek had a market value of $$13$ per share.

Then in September, Pueblo's stock price dropped to $$1$ per share and the company

purchased $6$ million shares of treasury stock.

For the year, Pueblo earned net income of $$26$ million and declared cash dividends of

$$15$ million.

Requirement

Complete the following tabulation to show what Pueblo, lnc$.,$ should report for

stockholders" equity at December $31.2019.$

Pueblo, Inc. ended $2018$ with $8$ million shares par value common stock

issued and outstanding. On December $31,2018,$ additional paid$-$in

capital $($APIC$)$ was $$16$ million and retained earnings totaled $$38$

million.

In April $2019,$ Pueblo issued $6$ million shares of common stock at a

price of $$3$ per share.

In June, the company declared and distributed $10\%$ stock dividend at

a time when Pueblo's common stock had a market value of $$13$ per

share.

Then in September, Pueblo's stock price dropped to $$1$ per share and

the company purchased $6$ million shares of treasury stock.

For the year, Pueblo earned net income of $$26$ million and declared

cash dividends of $$15$ million.

Now, using Microsoft Excel complete the following tabulation to show

what Pueblo, Inc., should report for stockholders' equity at December

$31,2019.$

$($Amounts in millions$)$ Common Stock $+$ Additional Paid$-$In

Capital $+$ Retained Earnings $-$ Treasury Stock $=$ Total Equity

Issuance of stock.

Stock Dividend.

Purchase of Treasury Stock

Net income.

Cash dividends.

Balance, Dec $31,2019$