TBSFWB0241 Retained Earnings Field Co 's stockholders' equity account balances at December 31, year 5, were as follows Common stock $ 800,000 Additional paid in capital 1,600,000 Retained earnings 1,845,000 The following year 6 transactions and other information relate to the stockholders' equity accounts Field had 400,000 authorized shares of $5 par common stock, of which 160,000 shares were issued and outstanding On March 5, year 6, Field acquired 5,000 shares of its common stock for $10 per share to hold as treasury stock The shares were originally issued at $15 per share Field uses the cost method to account for treasury stock Treasury stock is permitted in Field's state of incorporation On July 15, year 6, Field declared and distributed a property dividend of inventory The inventory had a $75,000 carrying value and a $60,000 fair market value On January 2, year 1, Field granted stock options to employees to purchase 20,000 shares of Field's common stock at $18 per share, which was the market price on that date The options may be exercised within a three year period beginning January 2, year 6 The measurement date is the same as the grant date On October 1, year 6, employees exercised all 20,000 options when the market value of the stock was $25 per share Field issued new shares to settle the transaction The stock options were accounted for in accordance with the intrinsic value method, which was in effect at the time Field's net income for year 6 was $240,000 Complete the following schedules for retained earnings and for the stockholders' equity section of the balance sheet for Field Company Enter values as whole numbers and deductions using parenthesis Field Company STATEMENT OF RETAINED EARNINGS For the Year Ending December 31, Year 6 Beginning retained earnings, 1 1 Y6 123 Net income 123 Dividends 123 End retained earnings, 12 31 Y6 123 Field Company STOCKHOLDERS' EQUITY SECTION OF BALANCE SHEET December 31, Year 6 Common stock 123 FORMATTED RESPONSE ResetAcceptCancel Additional paid in capital 123 Retained earnings 123 Treasury stock 123 Accumulated other comprehensive income 123 Total stockholders' equity 123

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TBSFWB0241 Retained Earnings Field Co.'s stockholders' equity account balances at December 31, year 5, were as follows: Common stock $ 800,000 Additional paid-in capital 1,600,000

TBSFWB0241 Retained Earnings

Field Co.'s stockholders' equity account balances at December 31, year 5, were as follows:

Common stock	$ 800,000
Additional paid-in capital	1,600,000
Retained earnings	1,845,000

The following year 6 transactions and other information relate to the stockholders' equity accounts:

Field had 400,000 authorized shares of $5 par common stock, of which 160,000 shares were issued and outstanding.
On March 5, year 6, Field acquired 5,000 shares of its common stock for $10 per share to hold as treasury stock. The shares were originally issued at $15 per share. Field uses the cost method to account for treasury stock. Treasury stock is permitted in Field's state of incorporation.
On July 15, year 6, Field declared and distributed a property dividend of inventory. The inventory had a $75,000 carrying value and a $60,000 fair market value.
On January 2, year 1, Field granted stock options to employees to purchase 20,000 shares of Field's common stock at $18 per share, which was the market price on that date. The options may be exercised within a three-year period beginning January 2, year 6. The measurement date is the same as the grant date. On October 1, year 6, employees exercised all 20,000 options when the market value of the stock was $25 per share. Field issued new shares to settle the transaction. The stock options were accounted for in accordance with the intrinsic value method, which was in effect at the time.
Field's net income for year 6 was $240,000.

Complete the following schedules for retained earnings and for the stockholders' equity section of the balance sheet for Field Company. Enter values as whole numbers and deductions using parenthesis.

Field Company

STATEMENT OF RETAINED EARNINGS

For the Year Ending December 31, Year 6

Beginning retained earnings, 1/1/Y6	123
Net income	123
Dividends	123
End retained earnings, 12/31/Y6	123

Field Company

STOCKHOLDERS' EQUITY SECTION OF BALANCE SHEET

December 31, Year 6

Common stock	123 FORMATTED RESPONSE ResetAcceptCancel
Additional paid-in capital	123
Retained earnings	123
Treasury stock	123
Accumulated other comprehensive income	123
Total stockholders' equity	123