1. Top of the World, Ltd. reported the following summarized balance sheet at December 31, 2010:

Assets:
Current assets	$11,600
Property and equipment, net	35,000
Total assets	$46,600
Liabilities:
Liabilities	$23,000
Stockholders equity:
Common stock, $0.10 par (25,000 shares issued and outstanding)	2,500
Preferred stock, $20 par (100 shares issued and outstanding)	2,000
Paid-in capital in excess of par	7,800
Retained earnings	11,300
Total liabilities and equity	$46,600

During 2011, Top of the World, Ltd. completed these transactions that affected stockholders equity:

January 15	Issued 5,000 shares of common stock for $15 per share.
February 1	Issue 250 shares of preferred stock for $23 per share.
June 1	Declared a cash dividend of $2 per preferred share and $0.50 per common share.
June 30	Paid the cash dividend.
October 1	Reacquired 3,000 shares of common stock as treasury stock, paying $13 per share.

Taking into account the transactions above, prepare a statement of stockholders equity for Top of the World for the period ended December 31, 2011. Use the format used in lecture and provided in your text, Illustration 10-20. Assume net income for 2011 was $6,730.