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The stockholders' equity section of Marigold Corp. balance sheet at December 31, 2019, appears below: Stockholders' equity Paid-in capital Common stock, $10 par value, 490,000
The stockholders' equity section of Marigold Corp. balance sheet at December 31, 2019, appears below:
Stockholders' equity | |||
Paid-in capital | |||
Common stock, $10 par value, 490,000 shares authorized; 320,000 issued and outstanding | $3,200,000 | ||
Paid-in capital in excess of par | 1,300,000 | ||
Total paid-in capital | 4,500,000 | ||
Retained earnings | 870,000 | ||
Total stockholders' equity | $5,370,000 |
During 2020, the following stock transactions occurred:
Jan. 18 | Issued 88,000 shares of common stock at $22 per share. | |
Aug. 20 | Purchased 29,000 shares of Marigold Corp. common stock at $27 per share to be held in the treasury. |
Prepare the stockholders' equity section of the balance sheet for Marigold Corp. at December 31, 2020. Assume that net income for the year was $152,000 and that no dividends were declared.
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