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The equity sections from Atticus Groups 2015 and 2016 year-end balance sheets follow. Stockholders Equity (December 31, 2015) Common stock$4 par value, 50,000 shares authorized,
The equity sections from Atticus Groups 2015 and 2016 year-end balance sheets follow.
Stockholders Equity (December 31, 2015) | |||
Common stock$4 par value, 50,000 shares authorized, 30,000 shares issued and outstanding | $ | 120,000 | |
Paid-in capital in excess of par value, common stock | 80,000 | ||
Retained earnings | 360,000 | ||
Total stockholders equity | $ | 560,000 | |
Stockholders Equity (December 31, 2016) | |||
Common stock$4 par value, 50,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury | $ | 140,000 | |
Paid-in capital in excess of par value, common stock | 110,000 | ||
Retained earnings ($60,000 restricted by treasury stock) | 400,000 | ||
650,000 | |||
Less cost of treasury stock | (60,000 | ) | |
Total stockholders equity | $ | 590,000 | |
The following transactions and events affected its equity during year 2016. | ||||||||||||||||||||||||||||
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