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The annual report for Malibu Beachwear reported the following transactions affecting stockholders equity:

a.	Purchased $350,000 of common stock now held in treasury.
b.	Declared cash dividends in the amount of $260,000.
c.	Paid the dividends in (b).
d.	Issued 100,000 new shares of $0.10 par value common shares for $2 per share.
e.	Closed the Dividends account.

3. Prepare a statement of stockholders' equity, assuming the following opening balances. Additional PaidRetained Additional Paid- Retined Treasury Stock Common Stock In Capital In Capital Earnings 90,000 S 1 50,000 S Beginning 12,500 S 0 Stock Issuances Net Income Dividends: Common 270,000 Ending 12,500 S 190,000 S 420,000S 0