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Chapter 8 Homework 5 20 points eBook Print References The following information pertains to Ming Corporation at January 1, Year 2: Common stock, $10 par, 37,000 shares authorized, 2,900 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings Ming Corporation completed the following transactions during Year 2: 1. Issued 2,500 shares of $10 par common stock for $15 per share. 2. Repurchased 1,700 shares of its own common stock for $18 per share. 3. Resold 1,020 shares of treasury stock for $20 per share. 4. Earned $67,400 of cash revenue. 5. Paid $41,650 of cash operating expenses. Required Prepare the stockholders' equity section of the year-end balance sheet. Stockholders' Equity Common stock Total paid-in capital Less: Treasury stock Total stockholders' equity $29,000 72,100 72,100 MING CORPORATION Balance Sheet (Partial) As of December 31, Year 2 $ Saved $ 0 0 Help

The following information pertains to Ming Corporation at Janvary 1, Year 2 Ming Corporation completed the following transactoons during Yeac 2 1. Hsued 2.500 shares of $10 pat common stock for $15 per share 2. Repurchased 1/00 stares of its own common stock for $18 per share 3. Resold 1020 shares of treasury stock for $20 per shace 4. Eamed $67.400 of cash revenue. 5. Paid $41,650 of cash operating expenses. Required Prepare the stochtholders' equity section of the year-end balance sheet

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