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  1. business
  2. accounting
  3. at the end of the prior year annual reporting peri

At the end of the prior year annual reporting period, Barnard Corporation's balance sheet showed...

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Accounting

At the end of the prior year annual reporting period, Barnard Corporation's balance sheet showed the following:

BARNARD CORPORATION Balance Sheet At December 31, Prior Year
Stockholders equity
Contributed capital
Common stock (par $15; 5,900 shares) $ 88,500
Paid-in capital 12,000
Total contributed capital 100,500
Retained earnings 42,000
Total stockholders equity $ 142,500

During the current year, the following selected transactions (summarized) were completed:

  1. Sold and issued 1,200 shares of common stock at $24 cash per share (at year-end).
  2. Determined net income, $51,000.
  3. Declared and paid a cash dividend of $4 per share on the beginning shares outstanding.

Required:

Prepare a statement of stockholders equity for the year ended December 31, current year.

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