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22) The following account balances were selected from the records of Harvey Corporation at December...

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Accounting

22) The following account balances were selected from the records of Harvey Corporation at December 31:

Common stock (par $15; authorized 100,000 shares, issued 31,000 shares, of which 1,200 shares are held as treasury stock) $ 465,000
Additional paid-in capitalcommon stock 176,000
Dividends 24,000
Retained earnings, beginning of year 72,000
Treasury stock at cost (1,200 shares) 24,000

Net income for the year was $42,000. Required:

1-b. Prepare the stockholders equity section of the balance sheet at December 31.

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