Module 9 Graded Homework × C ezto.mheducation.com/hm.tpx At the end of the 2014

Question

Module 9 Graded Homework × C ezto.mheducation.com/hm.tpx At the end of the 2014 annual reporting period, Barnard Corporation's balance sheet showed the following BARNARD CORPORATION Balance Sheet At December 31, 2014 Stockholders' equity Contributed capital Common stock (par $10; 5,900 shares) Paid-in capital $ 59,000 16,000 Total contributed capital Retained earnings 75,000 48,000 Total stockholders' equity $123,000 During 2015, the following selected transactions (summarized) were completed a. Sold and issued 1,700 shares of common stock at $29 cash per share (at year-end) b. Determined net income, $48,000 c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding Required: Prepare a statement of stockholders' equity for the year ended December 31, 2015 BARNARD CORPORATION Statement of Stockholders' Equity Total Stockholders Equity Common Stock Paid-in Capital Retained Earnings Shares Amount Balances as of December 31, 2014 Balances as of December 31, 2015

Explanation / Answer

Common Stock Paid in capital Retained earnings Total stockholders' equity Shares Amount Balance as of Decemebr 31,2014 5900 59000 16000 48000 123000 Shares issued 1700 17000 32300 49300 Net income 48000 48000 Dividends declared -17700 -17700 Balance as of Decemebr 31,2015 7600 76000 48300 78300 202600

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