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Sandhill Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. $200,000 107,000 Preferred stock, 10%, $100 par
Sandhill Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. $200,000 107,000 Preferred stock, 10%, $100 par (10,000 shares authorized 2,000 shares issued) Common stock. $5 par (107,000 shares authorized, 21.400 shares issued) Additional paid in capital Retained earnings Total 127.000 491,000 $925,000 During 2020, Sandhill took part in the following transactions concerning stockholders equity. 1 2 3 4 Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. Purchased 1,800 shares of its own outstanding common stock for $41 per share. Sandhill uses the cost method, Reissued 800 treasury shares for land valued at $33,700. Issued 520 shares of preferred stock at $105 per share Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $44 per share, Issued the stock dividend. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. 5. 6. 7 Prepare the December 31, 2020, stockholders' equity section. Assume 2020 net income was $354,000. (Enter account nar .Do not provide any descriptive information.) SANDHILL COMPANY Stockholders' Equity
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