Problem 11-9A Your answer is incorrect. Try again. On January 1, 2017, Goodhue Inc. had the following stockholders' equity balances. $800,000 Common Stock (400,000 shares issued) Paid-in Capital in Excess of Par-Common Stock 500,000 Common Stock Dividends Distributable Retained Earnings 120,000 600,000 During 2017, the following transactions and events occurred. 1. Issued 60,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2016. 2. Issued 30,000 shares of common stock for cash at $4 per share. 3. Purchased 25,000 shares of common stock for the treasury at $5 per share. 4. Declared and paid a cash dividend of $111,000. 5. Sold 8,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $360,000. Prepare a stockholders' equity statement for the year. (If an amount reduces the account balance then enter with nega GOODHUE INC Stockholders' Equity Statement Paid-in Capital in Excess of Par- Common Stock Dividends