Statement of Stockholders Equlty The stockholders equity T a

Statement of Stockholders\' Equlty The stockholders\' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 20Y9, are as follows. COMMON STOCK Balance Issued 13,200 shares Balance 1,200,000 14 52B 000 1,728,000 31 PAID-IN CAPITAL IN EXCESS OF PAR Balance Issued 13,200 shares Balance 192,000 14 105.600 31 297,600 TREASURY STOCK Aug. 7 2,200 shares 81 RETAINED EARNINGS Mar. 31 June. 30 Sept. 30 Dec. 31 Balance Closing (Net Income) Balance 2,090,000 31,000 Jan. 1 31,000 Dec. 31 31 31,000 Dec. 31 2,280,000

Solution

Statement of stockholder\' equity

	Common Stock $40 par	Paid in capital in excess of par	Treasury stock	Retained earnings	Total
Balance jan 1,20Y9	1200000	192000		2090000	3482000
Issued 13200 shares of common Stock	528000	105600			633600
Purchased 2200 shares as treasury stock			-81400		-81400
Net income				314000	314000
Dividends				-124000	-124000
Balance dec 31,20Y9	1728000	297600	-81400	2280000	4224200