The ledger of Wade Corporation at December 31, 2014, after the books have been closed, contains the following stockholders equity accounts.

Preferred Stock (13,000 shares issued)		$1,326,000
Common Stock (338,800 shares issued)		2,032,800
Paid-in Capital in Excess of Par ValuePreferred Stock		152,700
Paid-in Capital in Excess of Stated ValueCommon Stock		1,617,100
Retained Earnings		2,915,030

A review of the accounting records reveals this information:

1.		Preferred stock is 8%, $102 par value, noncumulative. Since January 1, 2013, 13,000 shares have been outstanding; 26,000 shares are authorized.
2.		Common stock is no-par with a stated value of $6 per share; 677,600 shares are authorized
3.		The January 1, 2014, balance in Retained Earnings was $2,435,030.
4.		On October 1, 60,400 shares of common stock were sold for cash at $8 per share.
5.		A cash dividend of $409,600 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2013.
6.		Net income for the year was $889,600.
7.		On December 31, 2014, the directors authorized disclosure of a $159,000 restriction of retained earnings for plant expansion. (Use Note A.)

Assignment ment Gradebook ORION Practice gnment CALCUL ca 11 uiviueliu UI .tu,uu u vva ucclaicu ai iu plupcily ailua cu Lu picicii eu ai lu cui i iilivi 6. Net income for the year was $889,600. 7. On December 31, 2014, the directors authorized disclosure of a $159,000 restriction of ret Reproduce the retained earnings account for the year. Jan. 1 arnings a Dec. 31 SHOW LIST OF ACCOUNTS Prepare the stockholders' equity section of the balance sheet at December 31. WADE CORPORATION