Morris Corporation was started with the issue of 5,000 shares of $11 par common stock...
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Morris Corporation was started with the issue of 5,000 shares of $11 par common stock for cash on January 1, 2012. The stock was issued at a market price of $19 per share. During 2012, the company earned $55,650 in cash revenues and paid $37,286 for cash expenses. Also, a $3,000 cash dividend was paid to the stockholders. Required: Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Morris Corporations 2012 fiscal year
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