Question

At the beginning of the year (January 1), Buffalo Drilling has $ 11,000 of common stock outstanding and retained earnings of $ 8,200. During the year, Buffalo reports net income of $ 8,500 and pays dividends of $ 3,200. In addition, Buffalo issues additional common stock for $ 8,000.

Required:
Prepare the statement of stockholders’ equity at the end of the year (December 31).



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  • CreatedJuly 15, 2014
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