Required information

E$11-9($Algo$)$ Recording and Reporting Stockholders' Equity Transactions, Including Closing Entry $[$LO $11-2,$ L$011-3]$

$[$The following information applies to the questions displayed below.$]$

The annual report for Malibu Beachwear reported the following transactions affecting stockholders' equity:

a$.$ Purchased $$352,000$ of common stock now held in treasury.

b$.$ Declared cash dividends in the amount of $$261,000.$

c$.$ Paid the dividends in $($b$).$

d$.$ Issued $120,000$ new shares of $$0\mathrm{.}10$ par value common shares for $$2$ per share.

e$.$ Closed the Dividends account.

E$11-9($Algo$)$ Part $3$

$3.$ Prepare a statement of stockholders' equity, assuming the following opening balances. Net income for the current year was $$290,000.$

$\backslash$table$[[$Beginning$,$Common Stock,$\backslash$table$[[$Additional Paid$-],[$In Capital$]],\backslash$table$[[$Retained$],[$Earnings$]],\backslash$table$[[$Treasury$],[$Stock$]]],[$$$,13,500,$$$,200,000,$$$,152,000,$$$,0],[$Stock Issuances$],[$Net Income,,,,,,$290,000,,],[$Dividends: Common$],[$Ending$,$$$,13,500,$$$,200,000,$$$,442,000,$$$,0]]$