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The clothing coat has two classes of stock authorized 7% $10 per preferred and one...

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Accounting

The clothing coat has two classes of stock authorized 7% $10 per preferred and one dollar part value common the following transactions affect stock holders equality during 2024 it's first year of operations. image
The Clothing Cove has two classes of stock authorized: 7\%, $10 par preferted, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: Japuary 2 Issues 100 , 600 shares of coencon stock for $15 per share. February 6 issues 1 , eoe shares of 74 preferred stock for $13 per share. Septenber 10 Purchases 12,000 shares of its on comen stock for $20 per share. Decenber is Reselis 6 , eee shares of treasury stock at 525 per share. In its first year of operations, The Clothing Cove has net income of $140,000 and psys dividends at the end of the year of $94,000 (\$1 per share) on alf common shares outstanding and $700 on all preferred shares outstanding. Required: Prepare the stocktiolders' equity section of the balance sheet for The Clothing Cove as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)

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