Beginning balances in the equity accounts were as follows:
Common stock, at par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,000
Paid-in capital in excess of par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14,000
Accumulated other comprehensive income . . . . . . . . . . . . . . . . . . . . . . . . . . (3,500)
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,000
Treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (6,000)
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24,500
The following is true for the year:
(a) Net income was $6,300.
(b) Equity increased $200 from an increase in value of available-for-sale securities.
(c) Dividends were $2,000.
(d) Treasury stock of $1,600 was purchased. Assume the cost method.
(e) Shares of stock for $800 were issued. Par value was $50.
Prepare a statement of changes in stockholders’ equity for the year.