WILL RATE!

The stockholders equity section of Benton Corporations balance sheet as of December 31, 2017 is as follows:

Stockholders Equity

CommonStock, $5 par value, authorized-2,000,000 shares..................... ...............$3,000,000

issued - 600,000 shares...................................................................$850,000

Paid in capital in excess of par........................................................................................................................4,500,000

Retained earnings..........................................................................................................................................8,350,000

The following event occurred during 2018:

1. Jan 5: 45,000 shares of authorized and unissued common stock were sold $8 per share

2. Jan 16: Declared a cash dividend of 20 cents per share, payable February 15 to stockholders of record on February 5.

3. Feb 10: 60,000 shares of authorized and unissued common stock were sold for $12 per share.

5. March 1: A 30% stock dividend was declared and issued. Fair value per share is currently $15.

6. April 1: A two-for-one stock split was carried out. The par value of the stock was to be reduced to $2.50 per share. Fair value on March 31 was $18 per share.

7. July 1: A 15% stock dividend was declared and issued. Fair value is currently $10 per share.

10.Nov 15

: A cash dividend of 20 cents per share was declared, payable September 1 to stockholders of record on Aug. 21,

Instructions: prepare journal entries for the year 2015 and prepare a comprehensive stockholders equity secti I N on the balance sheet