Question: How would I solve this? Include any work needed to solve the problem. On January 1, 2017, Shellenburger Inc. had the following stockholders' equity account

How would I solve this? Include any work needed to solve the problem.

the problem. On January 1, 2017, Shellenburger Inc. had the following stockholders'

On January 1, 2017, Shellenburger Inc. had the following stockholders' equity account balances. Common Stock, no-par value (472,000 shares issued) Common Stock Dividends Distributable Retained Earnings $2,360,000 165,500 573,500 During 2017, the following transactions and events occurred 2. 3. 4. 5. issued 70,800 shares of common stock as a result of a 15% stock dividend declared on December 15, 2016. Issued 31,600 shares of common stock for cash at $7 per share. Corrected an error that had understated the net income for 2015 by $72,950. Declared and paid a cash dividend of $81,850. Earned net income of $263,000. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.) SHELLENBURGER INC. Partial Balance Sheet Equity Paid-in Capital Capital Stock

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