Statement of Stockholders' Equity

Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 13,000 shares of $5 par common stock. On January 10, Peeler issued for cash 500 shares of preferred stock at $112 per share and 3,700 shares of common stock at $80 per share. On January 20, it issued 1,500 shares of common stock to acquire a building site at a time when the stock was selling for $70 per share.

During 2017, Peeler established an employee benefit plan and acquired 550 shares of common stock at $59 per share as treasury stock for that purpose. Later in 2017, it resold 100 shares of the stock at $68 per share.

On December 31, 2017, Peeler determined its net income for the year to be $43,300. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $4 per share to the common stockholders. The dividends will be paid in 2018.

Use the stockholders' equity information from above to complete the Statement of Stockholders' Equity table provided for Peeler Company for 2017.

Enter beginning equity account balances as appropriate. For each of the referenced transactions/events, reflect the amount of any effect on the equity accounts. If an account is not affected by a particular transaction/event, leave it blank.

Peeler Company Statement of Stockholders' Equity For the Year 2017

Preferred Stock Common Stock Paid-In Capital Treasury Stock Retained Earnings

1. Balance, January 1

2. Sale of preferred stock

3. Sale of common stock

4. Issuance of common stock

for building site

5. Purchase of treasury stock

6. Sale of treasury stock

7. Net income

8. Cash dividends-preferred

9. Cash dividends-common

10. Balance, December 31