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P5-4 Preparing a Statement of Stockholders Equity LO5-3 At the end of the prior year annual reporting period, Barnard Corporation's balance sheet showed the following BARNARD CORPORATION Balance Sheet At December 31, Prior Yea Stockholders' equity Contributed capital Common stock (par $10; 6,300 shares) Paid-in capital Total contributed capital $63,000 20,000 83,000 47,000 $130,000 Retained earnings Total stockholders' equity During the current year, the following selected transactions (summarized) were completed a. Sold and issued 2,000 shares of common stock at $25 cash per share (at year-end) b. Determined net income, $51,000 c. Declared and paid a cash dividend of $3 per share on the beginning shares outstanding Required Prepare a statement of stockholders' equity for the year ended December 31, current year. Answer is not complete. BARNARD CORPORATION Statement of Stockholders' Equity Total Stockholders" Equity Common Stock Paid-in Capital Retained Earnings Shares Amount Balances as of December 31, prior 6 63,000$ 20,000 $ 47,000s 30,000 ear Add: Net income Less: Dividends declared Stock issued Balances as of December 31, current 51,000 51,000 2,000 ear