Ivanhoe Company was formed on July 1, 2018 It was authorized to issue 285,500 shares of $10 par value common stock and 95,400 shares of 8 $25 par value, cumulative and nonparticipating preferred stock Ivanhoe Company has a July 1June 30 fiscal year The following information relates to the stockholders equity accounts of Ivanhoe Company Common Stock Prior to the 20202021 fiscal year, Ivanhoe Company had 105,300 shares of outstanding common stock issued as follows 184,400 shares were issued for cash on July 1, 2018, at $30 per share 2On July 24, 2018, 5,000 shares were exchanged for a plot of land which cost the seller $69,100 in 2012 and had an estimated fair value of $212,700 on July 24, 2018 315,900 shares were issued on March 1, 2019, for $38 per share During the 20202021 fiscal year, the following transactions regarding common stock took place November 30, 2020Ivanhoe purchased 2,200 shares of its own stock on the open market at $43 per share Ivanhoe uses the cost method for treasury stock December 15, 2020Ivanhoe declared a 5 stock dividend for stockholders of record on January 15, 2021, to be issued on January 31, 2021 Ivanhoe was having a liquidity problem and could not afford a cash dividend at the time Ivanhoes common stock was selling at $47 per share on December 15, 2020 June 20, 2021Ivanhoe sold 550 shares of its own common stock that it had purchased on November 30, 2020, for $25,500 Preferred Stock Ivanhoe issued 41,500 shares of preferred stock at $46 per share on July 1, 2019 Cash Dividends Ivanhoe has followed a schedule of declaring cash dividends in December and June, with payment being made to stockholders of record in the following month The cash dividends which have been declared since inception of the company through June 30, 2021, are shown below Declaration Date Common Stock Preferred Stock 121519$030 per share$1 per share 61520$030 per share$1 per share 121520$1 per share No cash dividends were declared during June 2021 due to the companys liquidity problems Retained Earnings As of June 30, 2020, Ivanhoes retained earnings account had a balance of $685,200 For the fiscal year ending June 30, 2021, Ivanhoe reported net income of $38,900 Prepare the stockholders equity section of the balance sheet, for Ivanhoe Company as of June 30, 2021, as it should appear in its annual report to the shareholders (Enter account name only and do not provide descriptive information) IVANHOE COMPANY Stockholders Equity $ $ $ Click if you would like to Show Work for this question Open Show Work

Answer rating: 100% (QA)

ANSWER ATTACHED IMAGE Balance sheet Partial Mall 2019 Pand in Capital in Excers of par ... View the full answer