what is the correct answer for total stockholders' equity ?
Instructions Mocow Enterprises Inc. manufactures bathroom fixtures. The stockholders' cauity accounts of Morrow Enterprises Inc., with balances on January 1, 2005, are as follows: $7,500,000 825,000 Common Stock, $20 stated value (500,000 shares authorized, 375,000 shares hoved) Paid In Capital in Excess of Stated Value-Common Stock Retained Earnings Treasury Stock (25,000 shares, at a cost of 518 per share) 33,600,000 450,000 The following selected transactions occurred during the year Jan Apr 6 22 Paid cash dividends of 50.08 per share on the common stock. The dividend had been properly recorded when declared on December 1 of the preceding fiscal year for $28,000 10 Issued 75,000 shares of common stock for 524 per share Sold all of the treasury stock for $26 per share 5 Declared a 4% stock dividend on common stock, to be capitalized at the market price of the stock, which is $25 per share 15 Issued the certificates for the dividend declared on July 5. 23 Purchased 30,000 shares of treasury stock for $19 per share, 28 Declared a $0.10-per-share dividend on common stock. 31 Closed the two dividends accounts to Retained Earnings. Aug Nov Dec Chart of Accounts ASSETS REVENUE 410 Sales 610 Interest Revenue 110 Cash 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 151 Prepaid Insurance 181 Land 193 Equipment 194 Accumulated Depreciation Equipment EXPENSES 510 Cost of Merchandise Sold 515 Credit Card Expense 520 Salaries Expanse 531 Advertising Expense 532 Delivery Expense 533 Selling Expenses 534 Rent Expense 535 Insurance Expense 536 Office Supplies Expense 537 Organizational Expenses 562 Depreciation Expense-Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 221 Notes Payable 226 Interest Payable 231 Cash Dividends Payable 236 Stock Dividends Distributable 241 Salaries Payable 241 Salaries Payable 261 Mortgage Note Payable EQUITY 311 Common Stock 313 Paid-In Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock Labels and Amount Descriptions Labels For the Year Ended December 31, 2015 December 31, 2045 Amount Descriptions Cash balance, July 31, 2045 Cash dividends Common stock, $20 stated value: 500,000 shares authorized, 375,000 shares issued Common stock, $20 stated value; 500,000 shares authorized, 438,000 shares issued Common stock, $20 stated value; 500,000 shares authorized, 468,000 shares issued Decrease in retained earnings Excess over stated value From sale of treasury stock Increase in retained earnings Net income Net loss Paid-in capital, common stock Retained earnings Retained earnings, December 31, 2045 Retained earnings, January 1, 2015 Stock dividends Total Total pald-in capital Total stockholders' equity Treasury stock Stockholders Equity d. Prepare the Stockholders'Equity section of the December 31, 2045, balance sheet. Refer to the chart of accounts and the Nsts of Labels and Amour which you must enter subtractive or negative numbers, use a minus sign Stockholders' Equity 1 Paid-in capital: 2 $9,360,000.00 1.215,000.00 Common stock. $20 stated value; 500,000 shares authorized, 468,000 shares issued Excess over stated value Excess over stated value Total paid-in capital Retained earnings $200,000.00 10,775,000.00 5 $34.231,200.00 6 45,006,200.00 7 Total 570,000.00 8 Treasury stock Total stockholders' equity $44,436,200.00