On D Chapter en erto.rnl education.com/tnn tpx r quick access, place your bookma

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On D Chapter en erto.rnl education.com/tnn tpx r quick access, place your bookmarks here on the bookmarks bar Import bookmarks now Finishing Touches has two classes of stock authorized: 8% $10 par preferred, and S1 par value com on The flo rg ha saeim afed stockholder eg ity ding 2018 January 2 Issues 100,000 shares of common stock for $31 per share February 6 issues 2.600 shares of 8% preferred stock for $12 per share September 10 Repurchases 10,000 shares of its own common stock for $36 per share. December 15 Reissues 5,000 shares of treasury stock at $41 per share In its first year of operations, Finishing Touches has net income of $156,000 and pays dividends at the end of the year of $96,000 ($1 per share) on al preferred shares outstanding 156,000 and pays dividends at the end of the year of $96.000($1 per share) on all common shares ouststanding a Required Propare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2018 (Amounts to be deducted should be indicated by a minus Balance Sheet (Stockholders' Equity Sectionj 1,2018 equity Total pad-n capta Treasury sock yoe here to

Explanation / Answer

Stockholder's equity :

Stockholder's equity Preferred stock 26000 Common stock 100000 Additional paid in capital 3005200 Paid in capital from sale of treasury stock 25000 Total paid in capital 3156200 Retained earnings 58920 Total 3215120 Less: Treasury stock (180000) Total stockholder's equity 3035120

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