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The Stockholder's Equity accounts of a corporation on January 1, 2013, were as follows: Preferred Stock (2%, $100 par, cumulative, 8,000 shares authorized) $ 600,000
The Stockholder's Equity accounts of a corporation on January 1, 2013, were as follows: Preferred Stock (2%, $100 par, cumulative, 8,000 shares authorized) $ 600,000 Common Stock ($3 par, 1,500,000 shares authorized) 900,000 Additional Paid in Capital - Preferred 90,000 Additional Paid in Capital - Common 700,000 Additional Paid in Capital - Treasury 24,000 Retained Earnings 780,000 Treasury Stock - Common ($9 per share cost) 45,000 During 2013, the corporation had the following transactions and events relating to its stockholders equity. Jan. 2 Issued 5,000 shares of common stock in exchange for a building. The fair value of the building on the date of purchase was $80,000. The stock on the date of purchase on the NYSE was selling for $17 per share. Feb. 21 Sold 1,000 shares of the treasury stock for $14 per share. Mar. 21 Issued 1,200 shares of preferred stock $120 per share. Nov. 14 Purchased 2,500 shares of common stock for the treasury at $10 per share. Dec. 31 Determined that net income for the year was $429,000. Dividends were declared and paid during December. These dividends included a $0.25 per share dividend to common stockholders of record as of December 20. There are no dividends in arrears. What is Total Stockholders' Equity as of December 31, 2012? O $3,667,975 O $3,606,975 O $3,267,000 O $3,582,975 O $3,577,975
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