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CALCULATOR PRINTER VERSION BACK RCES Problem 14-04A (Video) On January 1, 2020, Sunland Inc. had the following stockholders' equity balances. Common Stock (485,000 shares issued) $970,000 Paid-in Capital in Excess of Par-Common Stock 510,000 Common Stock Dividends Distributable 130,000 Retained Earnings 640,000 sion) deo) During 2020, the following transactions and events occurred. 1. Issued 65,000 shares of $2 par value common stock as a result of 154 stock dividend declared on December 15, 2021 2. Issued 32,500 shares of common stock for cash at $4 per share. Purchased 28,000 shares of common stock for the treasury at $5 per share. Declared and paid a cash dividend of $110,000 5. Sold 7,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $335,000. Video Study Prepare a stockholders' equity statement for the year. (If an amount reduces the account balance then enter with negative sign preceding the numberg. -15 or parentheses Sunland Inc. Stockholders' Equity Statement Pald-in Capital in Excess of Common Stock CALCULATOR ENTER YER 4 BACK NEXT OURCES Prepare a stockholders' equity statement for the year. (Ef an amount reduces the account balance then enter with negative sign preceding the numbers.g. -45 or parentheses .. (45).) Sunland Inc. Stockholders' Equity Statement Pald-in Capital in Common Excess of Stock Par- Dividends Common Stock Distributable - Common Stock Treasury Stock Retained Earnings Total deo) Balances, Jan. 1 $ sion) Issued 65,000 share for stock dividend ideo Issued 32,500 shares for cash tudy Purchased 28,000 shares of treasury stock Declared cash dividend Sold 7.000 shares of treasury stock Net Income for year Balances, Dec. 31 Click if you would like to show Work for this question Open Show Work