22 The stockholders' equity section of Sunshine Melodies Music, Inc.'s balance sheet at December...
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The stockholders' equity section of Sunshine Melodies Music, Inc.'s balance sheet at December 31, 2017, follows: B Click the icon to view the stockholders' equity section of the balance sheet.) (Click the icon to view additional information.) Requirement Based on the information provided, prepare the stockholders' equity section for Sunshine Melodies Music, Inc. at December 31, 2018. Stockholders' Equity Common Stock - no par, 10,000 shares authorized, 1,400 shares issued and outstanding $ 40,000 300,000 Retained Earnings 340,000 Total Stockholders' Equity During 2018, Sunshine Melodies Music completed the following transactions: . May 24: Issued 250 no-par shares for cash amounting to $19,000. December 1: Implemented a 2-for-1 stock split. December 31: Announced net income of $40,000 for the year ended December 31, 2018. . Stockholders' Equity Common Stock - no par, 10,000 shares authorized shares issued and outstanding Retained Earnings Total Stockholders' Equity
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