XYZ Inc.$$s fiscal year end is December $31$ and the company uses the cost method to account for Treasury Stock. There are no dividends in arrears on the cumulative preferred stock. Following is the equity section of XYZ Inc.$$s balance sheet for the year ended December $31,2023\mathrm{.}2024$ TransactionsXYZ Inc.$\text{'}$s fiscal year end is December $31$ and the company uses the cost method to account for

Treasury Stock. There are no dividends in arrears on the cumulative preferred stock. Following is

the equity section of XYZ Inc.$\text{'}$s balance sheet for the year ended December $31,2023.$

XYZ Inc.

Stockholders' Equity

As of December $31,2023$

Common stock, $$10$ par value, $50,000$ shares authorized;

$20,000$ shares issued and outstanding

Paid in capital in excess of par $-$ common stock

Preferred stock, $$100$ par value, $8\%$ cumulative,

$5,000$ shares authorized, $1,000$ shares issued and outstanding

Paid in capital in excess of par $-$ preferred stock

Retained Earnings

Total stockholders' equity

$2024$ Transactions

On January $21,xYZ$ issued $19,500$ shares of common stock, $$10$ par value when the market

price was $$16$ per share.

On February $1,$ XYZ issued $3,600$ shares of $$100$ par value, $8\%,$ cumulative preferred stock

for $$137$ per share.

On July $29,xYZ$ purchased $2,000$ shares of common stock at $$19$ per share $($use cost

method$).$

On August $9,$ XYZ sold the $2,000$ treasure shares at $$15$ per share.

On December $31,xYZ$ declared a $$0\mathrm{.}50$ per share cash dividend on the common stock and

declared the preferred stock dividend.

On December $31,xYZ$ closed the Income Summary account. There was a $$170,000$ net

income.

Required $($All work must be completed in EXCEL$)$:

Write journal entries for each of the above transactions.

Prepare a Statement of Stockholders' Equity $($often referred to as statement of changes in

stockholders' equity$)$ for the year ended December $31,2024($Include a column for every equity

account and a total column$).$ See Learning Objective $14\mathrm{.}4$ in the textbook.

Prepare the stockholders' equity section of XYZ Inc.$\text{'}$s balance sheet as of December $31,$

Calculate Earnings Per Share for the year ended December $31,2024.$

$1.$ On January $21,$ XYZ issued $19,500$ shares of common stock, $$10$ par value when the market price was $$16$ per share.

$2.$ On February $1,$ XYZ issued $3,600$ shares of $$100$ par value, $8\%,$ cumulative preferred stock for $$137$ per share.

$3.$ On July $29,$ XYZ purchased $2,000$ shares of common stock at $$19$ per share $($use cost method$).$

$4.$ On August $9,$ XYZ sold the $2,000$ treasure shares at $$15$ per share.

$5.$ On December $31,$ XYZ declared a $$0\mathrm{.}50$ per share cash dividend on the common stock and declared the preferred stock dividend.

$6.$ On December $31,$ XYZ closed the Income Summary account. There was a $$170,000$ net income.

Required $($All work must be completed in EXCEL$)$:

$1.$ Write journal entries for each of the above transactions.

$2.$ Prepare a Statement of Stockholders$$ Equity $($often referred to as statement of changes in stockholders$$ equity$)$ for the year ended December $31,2024($Include a column for every equity account and a total column$).$ See Learning Objective $14\mathrm{.}4$ in the textbook.

$3.$ Prepare the stockholders$$ equity section of XYZ Inc.$$s balance sheet as of December $31,2024.$

$4.$ Calculate Earnings Per Share for the year ended December $31,2024.$