The consolidated statement of stockholders’ equity for Spencer Electronics, Inc., a manufacturer of a broad line of electrical components, follows. It has nine summary transactions.

1. Show that you understand this statement by writing an explanation of each transaction. Determine the average price per common share wherever applicable. For some transactions, you will have to make assumptions about an offsetting part of the entry. For example, assume debentures (long-term bonds) are recorded at face value and that employees pay cash for stock purchased under company incentive plans.

2. Define other comprehensive income and determine the amount for Spencer Electronics.

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Spencer Electronics, Inc. Consolidated Statement of Stockholders' Equity For the Year Ended September 30, 2011 (in thousands) Accumulated Other Additional Treasury Preferred Common Paid-In Retained Stock, Comprehensive Stock Stock Capital Earnings Common Incme Total Balance at September 30, 2010 (1) Net income (2) Unrealzed gain on available $2,756 $3,902 $14,149 $119,312 $(942) $139,177 18,753 12,000 (2,756) 18,753 for sale securities preferred stock (27,560 shares) (89,000 shares) for treasury (501,412 shares) $12,000 (3) Redemption and retirement of (4) Stock options exercised (5) Purchases of common stock (6) Issuance of common stock (2,756) 89 847 (12,552) (12,552) (148,000 shares) in exchange for convertible subordinated debentures 148 3,635 3,783 (7) Issuance of common stoclk (715,000 shares) for cash 715 24,535 25,250 (8) Issuance of 500,000 shares of common stock in exchange for investment in Miti Company shares 500 7 263 17,763 (9) Cash dividends-common (3,086) Balance at September 30, 2011 5,354 60429 134,979 $(13,494) 12,000 $199,268 stock (50.80 per share) (3,086)