On D 83000 1900 2800 1400 32000 18500 the balance of common

On D $ 83,000 1,900 2,800 1,400 32,000 18,500 the balance of common stock at the beginning of the year was $600,000, and the balance of retained eamings was $48,000. Duing the year, me company issued additional In 1. Prepare an income statement Expenses: $ 32.000 11,400 66,600

Solution

Part 1 is correct Part 2 Statement of Stockholder equity Common stock Retained Eranings Total stockholder equity Beginning balance $60,000 48000 $108,000 Issuance of Common stock $33,000 $33,000 Net Income $16,400 $16,400 Cash Dividend/Dividend -26000 ($26,000) Ending Balance $93,000 $38,400 $131,400 If any doubt please comment.