The stockholders’ equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2016, are as follows.

Common Stock

Jan. 1 Balance 4,800,000

Apr. 14 Issued 30,000 shares 1,200,000

Dec. 31 Balance 6,000,000

Paid-in Capital in Excess of Par

Jan. 1 Balance 960,000

Apr. 14 Issued 30,000 shares 300,000

Dec. 31 Balance 1,260,000

Treasury Stock

Aug. 7 Purchased 12,000 shares 552,000

Retained Earnings

Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000

June 30 Dividend 69,000

Sept. 30 Dividend 69,000 Dec. 31 Closing (net income) 3,780,000

Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000

Prepare a statement of stockholders’ equity for the fiscal year ended December 31, 2016 using the table provided. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

Answer rating: 100% (QA)

ICards Inc Statement of Stockholders Equity For the year ending December 31 2016 Common S... View the full answer