Retained earnings and balance sheet data:

Accounts payable $194,300

Accounts receivable 545,000

Accumulated depreciation—office buildings and equipment 1,580,000

Accumulated depreciation—store buildings and equipment 4,126,000

Allowance for doubtful accounts 8,450

Bonds payable, 5%, due in 10 years 500,000

Cash 282,850

Common stock, $20 par (400,000 shares authorized;

85,000 shares issued, 94,600 outstanding), January 1, 20Y8 1,700,000

Dividends:

Cash dividends for common stock 155,120

Cash dividends for preferred stock 100,000

Goodwill 700,000

Income tax payable 44,000

Interest receivable 1,200

Inventory (December 31, 20Y8), at lower of cost (FIFO) or market 778,000

Office buildings and equipment 4,320,000

Paid-in capital from sale of treasury stock, January 1, 20Y8 0

Paid-in capital in excess of par—common stock, January 1, 20Y8 736,800

Paid-in capital in excess of par—preferred stock, January 1, 20Y8 70,000

Preferred 5% stock, $80 par (30,000 shares authorized;

16,000 shares issued), January 1, 20Y8 1,280,000

Premium on bonds payable 19,000

Prepaid expenses 27,400

Retained earnings, January 1, 20Y8 8,197,220

Store buildings and equipment 12,560,000

Treasury stock, January 1, 20Y8 0

Prepare a balance sheet in report form as of December 31, 20Y8.

  
 

Paid-In Capital in Excess of Par- Equinox Products Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20YS Paid-In Capital in Excess of Par Paid-In Capital Preferred Common from Sale of Preferred Stock Stock Common Stock Stock Treasury Stock $ $ Balances, January 1 V 1,280,000 70,000 1,700,000 736,800 Issued Common Stock y 300,000 150,000 Issued Preferred Stock V Net income v 320,000 80,000 Cash dividends V Sale of treasury stock Balances, December 31 V 1,600,000 150,000 2,000,000 886,800