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Wildhorse Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were
Wildhorse Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders equity.
Preferred Stock, 159,600 shares | $ 3,192,000 | |
Common Stock, 1,970,000 shares | 9,850,000 | |
Paid-in Capital in Excess of ParPreferred Stock | 193,000 | |
Paid-in Capital in Excess of ParCommon Stock | 27,534,000 | |
Retained Earnings | 4,424,000 |
The following transactions affected stockholders equity during 2021.
Jan. 1 | 29,100 shares of preferred stock issued at $22 per share. | |
Feb. 1 | 47,100 shares of common stock issued at $20 per share. | |
June 1 | 2-for-1 stock split (par value reduced to $2.50). | |
July 1 | 32,500 shares of common treasury stock purchased at $11 per share. Wildhorse uses the cost method. | |
Sept. 15 | 10,400 shares of treasury stock reissued at $12 per share. | |
Dec. 31 | The preferred dividend is declared, and a common dividend of 46 per share is declared. | |
Dec. 31 | Net income is $2,112,000. |
Prepare the stockholders equity section for Wildhorse Company at December 31, 2021. (Enter account name only and do not provide descriptive information.)
WILDHORSE COMPANY Stockholders' Equity December 31, 2021 Capital Stock Preferred Stock 3,774,000 Common Stock 10,085,500 Total Capital Stock 13,859,500 Additional Paid-in Capital Paid-in Capital in Excess of Par-Common Stock 28,390,500 Paid-in Capital in Excess of Par-Preferred Stock 251,200 Paid-in Capital from Treasury Stock 10,400 28,652,100 Total Paid-in Capital 42,511.600 Retained Earnings 3.204.380 45.715,980 Total Paid-in Capital and Retained Earnings Less : Treasury Stock 243,100 i Total Stockholders' Equity 45,472,880
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