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Sunland Tandy Company reported the following balances at December 31, 2021: common stock $519,000; paid-in capital in excess of par-common stock $219,000; retained earnings $369,000.
Sunland Tandy Company reported the following balances at December 31, 2021: common stock $519,000; paid-in capital in excess of par-common stock $219,000; retained earnings $369,000. During 2022, the following transactions affected stockholder's equity. 1. Issued preferred stock with a par value of $219,000 for $249,000. 2. Purchased treasury stock (common) for $89,000. 3. Earned net income of $281.480. 4. Declared and paid cash dividends of $105,000 ($35,000 preferred). (a) Prepare the stockholders' equity section of Sunland Tandy Company's December 31, 2022, balance sheet SUNLANDTANDY COMPANY Balance Sheet (Partial) December 31, 2022 Paid in Capital SUNLANDTANDY COMPANY Balance Sheet (Partial) December 31, 2022 Paid-in Capital Capital Stock Common Stock $ 519000 Preferred Stock 219000 Total Capital Stock $ 738000 Additional Paid-in Capital In excess of par-Common Stock 219000 In excess of par --Preferred Stock 30000 Total Additional Paid-in Capital 249000 Total Paid-in Capital Common Stock 519000 Preferred Stock 219000 Total Capital Stock 738000 Additional Paid-in Capital In excess of par -- Common Stock 219000 In excess of par --Preferred Stock 30000 Total Additional Paid-in Capital 249000 Total Paid-in Capital Retained Earnings Total Pald-in Capital and Retained Earnings Less Treasury Stock-Preferred Total Stockholders Equity
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