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

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

Purchased $$350,600$ of common stock now held in treasury.

Declared cash dividends in the amount of $$260,300.$

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

Issued $106,000$ new shares of $$0\mathrm{.}10$ par value common shares for $$2$ per share.

Closed the Dividends account.

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

Prepare a statement of stockholders$$ equity, assuming the following opening balances. Net income for the current year was $$276,000.\backslash$table$[[,$Common Stock,$\backslash$table$[[$Additional Paid$-],[$In Capital$]],\backslash$table$[[$Retained$],[$Earnings$]],\backslash$table$[[$Treasury$],[$Stock$]]],[$Beginning$,$$$,12,800,$$$,193,000,$$$,150,600,$$$,0],[$Stock Issuances,,$10,600,,,,,,],[$Net Income,,,,,,$276,000,,],[$Dividends: Common,,,,,,,,$],[$Ending$,$$$,23,400,,,,,,]]$