The following is the shareholders' equity section of Hammer Company's balance sheet as of December 31,...

  

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The following is the shareholders' equity section of Hammer Company's balance sheet as of December 31, 2019: Contributed Capital: Common stock, $1 par Additional paid-in capital on common stock Total Contributed Capital Retained Earnings Accumulated other comprehensive income $150,000 300,000 $450,000 758,000 14,500 $1,222,500 Total Shareholders' Equity During 2020, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share. 2.) Hammer earned net income of $175,900. 3.) Hammer paid a cash dividend of $.10 per share of common stock. 4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450. Common Stock, $1 par Required: Prepare Hammer's statement of shareholders' equity for 2020. Hammer Company Statement of Shareholders' Equity For the Year Ended December 31, 2020 Additional Paid-In Capital, Common Stock Retained Earnings Acc. Other Comp. Income Total Total Shareholders' Equity During 2020, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share. 2.) Hammer earned net income of $175,900. 3.) Hammer paid a cash dividend of $.10 per share of common stock. 4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450. Required: Prepare Hammer's statement of shareholders' equity for 2020. Hammer Company Statement of Shareholders' Equity For the Year Ended December 31, 2020 Cash Common Stock, $1 par $1,222,500 GA Additional Paid-In Capital, Common Stock Retained Earnings Acc. Other Comp. Income LA Total The following is the shareholders' equity section of Hammer Company's balance sheet as of December 31, 2019: Contributed Capital: Common stock, $1 par Additional paid-in capital on common stock Total Contributed Capital Retained Earnings Accumulated other comprehensive income $150,000 300,000 $450,000 758,000 14,500 $1,222,500 Total Shareholders' Equity During 2020, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share. 2.) Hammer earned net income of $175,900. 3.) Hammer paid a cash dividend of $.10 per share of common stock. 4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450. Common Stock, $1 par Required: Prepare Hammer's statement of shareholders' equity for 2020. Hammer Company Statement of Shareholders' Equity For the Year Ended December 31, 2020 Additional Paid-In Capital, Common Stock Retained Earnings Acc. Other Comp. Income Total Total Shareholders' Equity During 2020, the following transactions and events occurred and were recorded: 1.) Hammer issued 50,000 shares of common stock at $3 per share. 2.) Hammer earned net income of $175,900. 3.) Hammer paid a cash dividend of $.10 per share of common stock. 4.) Hammer had an unrealized loss associated with some available-for-sale securities in the amount of $1,450. Required: Prepare Hammer's statement of shareholders' equity for 2020. Hammer Company Statement of Shareholders' Equity For the Year Ended December 31, 2020 Cash Common Stock, $1 par $1,222,500 GA Additional Paid-In Capital, Common Stock Retained Earnings Acc. Other Comp. Income LA Total

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2 3 Beg Balance 4 Net income 5 Dividend paid 6 Common stock issued 7 Unrealized loss 8 E... View the full answer