View Policies Current Attempt in Progress On January 1, 2020, Ivanhoe Inc. had the following stockholders' equity balances. Common Stock (485,000 shares issued) $970,000 Paid-in Capital in Excess of Par-Common Stock 520,000 Common Stock Dividends Distributable 230,000 Retained Earnings 540,000 During 2020, the following transactions and events occurred. 1. Issued 115,000 shares of $2 par value common stock as a result of 15% stock dividend declar 2. Issued 57,500 shares of common stock for cash at $4 per share, 3. Purchased 32,000 shares of common stock for the treasury at $5 per share, 4. Declared and paid a cash dividend of $117.000. 5. Sold 5,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $375,000, Prepare a stockholders' equity statement for the year. (If an amount reduces the account balance then enter with negative sign preceding the number eg. 45 or parentheses es (45) Ivanhoe Inc. Stockholders' Equity Statement Paid-in Capital in Excess of Par- Common Stock Common Stock Common Stock Dividends Distributable Treasury Stock Balances Jan. 1 $ $ Issued 115.000 share for stock dividend Issued 57.500 shares for cash Purchased 32.000 uestion 6 of 6 -/1 E Purchased 32,000 shares of treasury stock Declared cash dividend sold 5.000 shares of treasury stock Net ncome or year Balances Dec. 31 $ e Textbook and Media