The following selected transactions and events occurred during the year:

a$.$ Issued $10,000$ shares of common stock for $$60,000.$

b$.$ Purchased $1,200$ shares of treasury stock for $$4,800.$

c$.$ Sold $2,000$ shares of treasury stock for $$11,000.$

d$.$ Generated net income of $$94,000.$

e$.$ Declared and paid the full year's dividend on preferred stock and a dividend of $$1\mathrm{.}00$ per

share on common stock outstanding at the end of the year.

Chen Corporation maintains several paid$-$in capital accounts $($Paid$-$in Capital in Excess of Par,

Paid$-$in Capital from Treasury Stock, etc.$)$ in its ledger, but combines them all as "Additional

paid$-$in capital" when preparing financial statements.

REQUIREMENT

You have been asked to prepare a statement of stockholders' equity for Chen Corporation.

Review the worksheet STOCKEQ that follows these requirements.

Open the file STOCKEQ from the website for this book at

cengagebrain.com. Enter the

formulas in the appropriate cells on the worksheet. Then fill in the columns to show the

effect of each of the selected transactions and events listed earlier. Enter your name in cell

A$1.$ Save the completed worksheet as STOCKEQ$2.$ Print the worksheet. Also print your

formulas. Check figure: Total stockholders' equity balance at $12/31/12($cell G$21),$ $$398,800.$