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On January 1, 2025, Sheridan Inc. had these stockholders' equity balances. Common Stock, $1 par (2,700,000 shares authorized, 660,000 shares issued and outstanding) $660,000
On January 1, 2025, Sheridan Inc. had these stockholders' equity balances. Common Stock, $1 par (2,700,000 shares authorized, 660,000 shares issued and outstanding) $660,000 Paid-in Capital in Excess of Par 1,650,000 Retained Earnings 709,000 Accumulated Other Comprehensive Income 59,000 During 2025, the following transactions and events occurred. 1 Issued 51,000 shares of $1 par value common stock for $4 per share. 2 Issued 63,000 shares of common stock for cash at $6 per share. 3 Purchased 23.900 shares of common stock for the treasury at $3.50 per share. 4. Declared and paid a cash dividend of $160,000. 5. Earned net income of $428.500. 6. Had other comprehensive income of $18,400. Prepare the stockholders' equity section of the balance sheet at December 31, 2025. (Enter account name only and do not provide descriptive information.)
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1 Raw Materials Requisitioned a Total raw materials requisitioned 380000 Direct materials 350000 380...Get Instant Access to Expert-Tailored Solutions
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