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Statement of stockholders$$ equity

Noric Cruises Inc. began the month of October with the following balances: Common Stock, $$140,000$; Additional Paid$-$In Capital, $$3,500,000$; and Retained Earnings, $$12,800,000.$ During October, Noric issued for cash $50,000$ shares of common stock $($with a stated value of $$1)$ at $$14$ per share. Noric reported the following results for the month ended October $31$:

Line Item Description Amount

Net income $$2,150,000$

Cash dividends declared $475,000$

Prepare a statement of stockholders$$ equity for the month ended October $31.$ If there is a net loss or there has been a decrease in stockholders' equity, enter that amount as a negative number using a minus sign. If an amount box does not require an entry, leave it blank.

Noric Cruises Inc.

Statement of Stockholders' Equity

For the Month Ended October $31$

Line Item Description

Common

Stock Additional

Paid$-$In

Capital

Retained

Earnings

Total

Balances, October $1$

$Balances, October $1$

$Balances, October $1$

$Balances, October $1$

Balances, October $1$

Issued Common Stock

Issued Common Stock

$50,000$

Issued Common Stock

Issued Common Stock

$0$

Issued Common Stock

Net Income

Net Income

$0$

Net Income

$0$

Net Income

Net Income

Dividends

Dividends

$0$

Dividends

$0$

Dividends

$-475,000$

Dividends

Balances, October $31$

$Balances, October $31$

Balances, October $31$

$0$

Balances, October $31$

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