Question
The following account balances were selected from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed:
The following account balances were selected from the records of TAC Corporation at the end of the fiscal year after all adjusting entries were completed: Common stock ($20 par value; 100,000 shares authorized, 34,000 shares issued, 32,000 shares outstanding) $ 680,000 Additional paid-in capital 163,000 Dividends declared and paid during the year 16,000 Retained earnings at the beginning of the year 75,000 Treasury stock at cost (2,000 shares) (25,000 ) Net income for the year was $30,000. The stock price is currently $22.29 per share. 3. value: 3.00 points Required information Required 1. Prepare the stockholders' equity section of the balance sheet at the end of the fiscal year. (Amounts to be deducted should
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