solution required

Preparation of stockholders' equity section (L.O. 1, 2) MBM Corporation had the following equity accounts at the beginning of the year: The following events took place during the current year: Feb. 24 Declared a $2 dividend per share. May 10 Announced a 2 -for-1 stock' split. Sept. 18 Declared and issued a 10% stock dividend; market value at the time of declaration was $2 per share. Dec. 30 Reacquired 500 shares of common |treasury) stock at $18 per share. Assuming net income of $92,000, prepare an updated stockholders' equity section for MBM at the end of the year, after the accounting records have been closed