Shown below is the stockholders' equity section of Flamingo Corporation's balance sheet at December 31, 2020:

Flamingo Corporation
Statement of Stockholder's Equity
December 31, 2020
Common stock, $3 par value, 200,000 shares authorized, ____ shares issued and _____ outstanding	$360,000
Additional paid in capital common stock	$400,000
Additional paid in capital stock options	$42,000
Total Paid in Capital	$760,000
Retained Earnings	$1,600,000
Less: Treasury Stock (10,000 shares)	($295,000)
Total Stockholders Equity	$2,065,000

Consider the following events in preparing a Statement of Stockholders Equity and earnings per share for the year 2021.

1/1/20	On January 1, 2019, the company granted 4 executive employees the option to purchase 12,000 shares (3,000 shares each) of common stock at $12 per share. The Black-Scholes option pricing model determines total compensation expense to be $63,000. The option becomes exercisable on December 31, 2021, after the employee completed three years of service. The market price of the companys stock was $18 on January 1, 2019 and $30 on December 31, 2020
1/31/21	One of the executives who was granted the above options was fired and left the company.
1/31/21	The company issued 1,000 shares of $3 par common stock in exchange for land. Although several real estate appraisers disagree on the value of the land in a range from $30,000 to $34,500, the companys stock is currently selling on a stock exchange for $31 per share.
4/1/21	The company purchased 2,000 common shares of treasury stock at $34 per share.
5/1/21	The company reissued 8,000 shares of the treasury stock at $37 per share.
6/1/21	The company reissued 2,600 shares of treasury stock at $32 per share.
7/1/21	The company issued 3,000 shares of 5% cumulative convertible preferred stock, $100 par value, for $108 per share. Each share is convertible into 3 shares of common stock.
12/1/21	The company declared a 10% stock dividend to all common stockholders of record. The market value of the common stock is $36 per share
12/20/21	The board of directors declared the preferred stock dividend and a dividend of $.5 per share on the common stock.
12/31/21	The market value of the company's common stock is $40 per share

The companys net income for 2021 is $1,235,000 -- BEFORE any of the above transactions.

Complete the following in EXCEL prepared in GOOD FORM and using formulas. Organize your analysis appropriately to:

• Prepare the company's Statement of Stockholder's Equity in good form (75 points)

• Compute Earnings per Share (25 points)