Required: Prepare the statement of stockholders' equity for Company A for the year ended December 31, Year 1. (An should be indicated by a minus sign.) Answer is complete but not entirely correct. Company A Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Additional Common Paid in Retained Stock Earnings Capital 100,000 $4,600,000 $2,100,000 56,000 2,912,000 Total Treasury Stock Stockholders 0 $ 285,600 % Balance, January 1 Issue common stock Purchase treasury stock Declare dividends Resell treasury stock Net income Balance, December 31 Equity 6,800,000 2.968,000 (285,600) (233,895) 155,550 610,000 10,585,255 (233,895) 12,750 142,800 610,000 2,476,105 $ 156,000 7,524,750 Company A designs and produces a line of golf equipment and golf apparel. Company A has 100,000 shares of common stock outstanding as of the beginning of Year 1. Company A has the following transactions affecting stockholders' equity in Year 1. March 1 Issues 56,880 additional shares of $1 par value common stock for $53 per share. 10 Purchases 5,180 shares of treasury stock for $56 per share June 1 Declares a cash dividend of $1.55 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June 1. October 21 Resells 2,550 shares of treasury stock purchased on May 10 for $61 per share. Company A has the following beginning balances in its stockholders' equity accounts on January 1 Year 1: Common Stock, $100,000 Additional Paid-in Capital, $4,600,000; and Retained Earnings, $2,100,000. Net income for the year ended December 31, Year 1, is $610,000 Required: Prepare the statement of stockholders' equity for Company A for the year ended December 31, Year 1. (Amounts to be deducted should be indicated by a minus sign.) Answer is complete but not entirely correct. Company A Statement of Stockholders' Equity