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The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

1. Purchased $350,500 of common stock now held in treasury.
2. Declared cash dividends in the amount of $260,250.
3. Paid the dividends in (b).
4. Issued 105,000 new shares of $0.10 par value common shares for $2 per share.
5. Closed the Dividends account.

3. Prepare a statement of stockholders equity, assuming the following opening balances.

! Required information [The following information applies to the questions displayed below.) The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity: a. Purchased $350,500 of common stock now held in treasury. b. Declared cash dividends in the amount of $260,250. c. Paid the dividends in (b). d. Issued 105,000 new shares of $0.10 par value common shares for $2 per share. e. Closed the Dividends account. 3. Prepare a statement of stockholders' equity, assuming the following opening balances. Retained Common Stock Additional Paid- Treasury In Capital Earnings Stock $ 12.750 $ 192,500 $ 150,500 $ 0 Beginning Stock Issuances Net Income 275,000 Dividends: Common Ending $ 12,750 $ 192,500 $ 425,500 $ 0