Quonset, Inc. is a public company whose shares are actively traded in the over-the-counter market. The companys stockholders equity account balances at December 31, year 1, are on the following tab.

During the year ended December 31, year 2, transactions and other information relating to Quonsets stockholders equity were as follows:

On February 1, year 2, Quonset issued 13,000 shares of common stock to Carson Co. in exchange for land. On the date issued, the stock had a market price of $13 per share. The land had a carrying value on Carsons books of $140,000 and an assessed value for property taxes of $95,000. On March 5, year 2, Quonset purchased 21,000 of its shares to hold as treasury stock at $12 per share. The shares were originally issued at $13 per share. Quonset uses the cost method to account for treasury stock. Treasury stock is permitted in Quonsets state of incorporation. On March 15, year 2, Quonset purchased a portfolio of marketable debt securities to be held as available-for-sale securities. On June 5, year 2, Quonset declared a property dividend of inventory. The inventory had a $65,000 carrying value and a $55,000 fair market value. On July 1, year 2, Quonset declared and issued a 15% stock dividend. On December 5, year 2, Quonset declared a cash dividend of $1 per share to all common stockholders of record on December 15, year 2. The dividend was paid on January 5, year 3. Net income for year 2 was $1,443,000. At December 31, year 2, unrealized gain on the portfolio of marketable debt securities purchased during the year was $95,000, net of tax.

Common stock: $1 par value; 1,650,000 shares

authorized; 850,000 shares issued and outstanding

$850,000

Additional paid-in capital

3,100,000

Retained earnings

3,700,000

Total stockholders' equity

$7,650,000

Using the stockholders equity balances as of December 31, year 1, and the transactions and other information relating to Quonsets stockholders equity during year 2, complete the following worksheet analysis of stockholders equity for year 2. Ignore the effect of income taxes. For each item in column A:

Enter in column B the effect (if any) on the number of Quonset shares issued and outstanding.

Enter in columns C through G the dollar amount effect (if any) on the appropriate equity account(s).

Total stockholders equity values at column H and ending balance in row 10 will automatically calculate based on your entries.

Enter increases to stockholders equity as positive numbers and decreases to stockholders equity as negative numbers. If there is no amount to enter in a particular shaded cell, enter a value of zero (0).

	A	B	C	D	E	F	G	H
1	Accounts	Number of shares issued and outstanding	Common stock	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Treasury stock	Total stockholders' equity
2	Beginning Balances							0
3	Issuance of shares for property							0
4	Purchase of treasury stock							0
5	Property dividends distributed							0
6	Stock dividend issued							0
7	Cash dividend							0
8	Net income for the year							0
9	Unrealized gain (loss) on marketable debt securities available for sale							0
10	Ending Balances	0	0	0	0	0	0