Question
The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2014. In 2014, 15,830 shares were authorized and
The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2014. In 2014, 15,830 shares were authorized and 7,580 shares of common stock ($53 par value) were issued at a price of $60. In 2015, 1,500 shares were issued as a stock dividend when the stock was selling for $65. 340 shares of common stock were bought in 2016 at a cost of $71 per share. These 340 shares are still in the company treasury. In 2015, 11,810 preferred shares were authorized and the company issued 5,390 of them ($100 par value) at $115. Some of the preferred stock was reacquired by the company and later reissued for $5,020 more than it cost the company. The corporation has earned a total of $627,400 in net income after income taxes and paid out a total of $318,200 in cash dividends since incorporation. Prepare the stockholders equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2016. Account for treasury stock using the cost method
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