During 2018, Fascom Inc. had several transactions relating to common stock.
January
15:
Declared a property dividend of 100,000 shares of Slowdown Company (book value $10.9 per share, fair value $9.45 per share).
February
17:
Distributed the property dividend.
April
10:
A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The fair value of the stock was $4 on this date.
July
18:
Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per share.
December
1:
Declared a 50 cents per share cash dividend on the outstanding common shares.
December
20:
Paid the cash dividend.
Required: Without preparing journal entries, prepare the shareholders' equity section of Fascom's balance sheet as of December 31, 2018. Assume net income is $590,000 for 2018. (Negative amounts should be entered with a minus sign.)
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