Quick Fix It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area The charter issued by the state authorized the following stock Common stock, $10 par value, 98,200 shares authorized Preferred stock, $42 par value, 8 percent, 60,100 shares authorized During January and February of this year, the following stock transactions were completed Sold 78,300 shares of common stock at $20 cash per share Sold 21,800 shares of preferred stock at $79 cash per share Repurchased 5,400 shares of common stock for $21 cash per share Required Net income for the year was $91,400 cash dividends declared and paid at year end were $30,200 Prepare the stockholders' equity section of the balance sheet at the end of the year Note Amounts to be deducted should be indicated with a minus sign Quick Fix It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area The charter issued by the state authorized the following stock Common stock, $10 par value, 98,200 shares authorized Preferred stock, $42 par value, 8 percent, 60,100 shares authorized During January and February of this year, the following stock transactions were completed a Sold 78,300 shares of common stock at $20 cash per share b Sold 21,800 shares of preferred stock at $79 cash per share c Repurchased 5,400 shares of common stock for $21 cash per share Required Net income for the year was $91,400 cash dividends declared and paid at year end were $30,200 Prepare the stockholders' equity section of the balance sheet at the end of the year Note Amounts to be deducted should be indicated with a minus sign

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Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued

Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock, $10 par value, 98,200 shares authorized Preferred stock, $42 par value, 8 percent, 60,100 shares authorized During January and February of this year, the following stock transactions were completed: Sold 78,300 shares of common stock at $20 cash per share. Sold 21,800 shares of preferred stock at $79 cash per share. Repurchased 5,400 shares of common stock for $21 cash per share. Required: Net income for the year was $91,400; cash dividends declared and paid at year-end were $30,200. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign.

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Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock, $10 par value, 98,200 shares authorized Preferred stock, $42 par value, 8 percent, 60,100 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,300 shares of common stock at $20 cash per share. b. Sold 21,800 shares of preferred stock at $79 cash per share. c. Repurchased 5,400 shares of common stock for $21 cash per share. Required: Net income for the year was $91,400; cash dividends declared and paid at year-end were $30,200. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign