Submit your solution and be sure to show all of your work. Klaso, Inc. organized on...

 

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Submit your solution and be sure to show all of your work. Klaso, Inc. organized on January 01, 2010. Klaso, Inc. has authorization for 50,000 shares of 4%, $50 Preferred Stock and 1,000,000 shares of $25 Par Value Common Stock. As of December 31, 2012 it has 7,500 outstanding shares of Preferred Stock receiving a total of $3,975,000. Klaso, Inc. also has 350,000 shares of Common Stock outstanding receiving a total of $21,875,000. Retained Earnings Beginning Balance on December, 31, 2012 was $1,350,000. During 2013 the following transactions occurred. On January 15, 2013 Klaso, Inc. sold 3,100 shares of Preferred Stock receiving a total of $205,000. On April 15, 2013 Klaso, Inc. sold 40,000 shares of Common Stock receiving a total of $4,000,000. On October 27, 2013 Klaso, Inc. sold 6,900 of Preferred Stock receiving a total of $1,035,000. On September 26, 2013 Klaso, Inc. sold 10,000 of Common Stock receiving a total of $1,500,000. Net Income for 2013 was $1,500,000. Preferred Stock Dividends paid on December 31, 2013. A Common Stock Dividend of $2.25 was paid on December 31, 2013. Required: Calculate the Statement of Stockholders' Equity for the Year of 2013. To submit your Solution for the Graded Problem assignment, click on the Submit Assignment button at the top. Submit your solution and be sure to show all of your work. Klaso, Inc. organized on January 01, 2010. Klaso, Inc. has authorization for 50,000 shares of 4%, $50 Preferred Stock and 1,000,000 shares of $25 Par Value Common Stock. As of December 31, 2012 it has 7,500 outstanding shares of Preferred Stock receiving a total of $3,975,000. Klaso, Inc. also has 350,000 shares of Common Stock outstanding receiving a total of $21,875,000. Retained Earnings Beginning Balance on December, 31, 2012 was $1,350,000. During 2013 the following transactions occurred. On January 15, 2013 Klaso, Inc. sold 3,100 shares of Preferred Stock receiving a total of $205,000. On April 15, 2013 Klaso, Inc. sold 40,000 shares of Common Stock receiving a total of $4,000,000. On October 27, 2013 Klaso, Inc. sold 6,900 of Preferred Stock receiving a total of $1,035,000. On September 26, 2013 Klaso, Inc. sold 10,000 of Common Stock receiving a total of $1,500,000. Net Income for 2013 was $1,500,000. Preferred Stock Dividends paid on December 31, 2013. A Common Stock Dividend of $2.25 was paid on December 31, 2013. Required: Calculate the Statement of Stockholders' Equity for the Year of 2013. To submit your Solution for the Graded Problem assignment, click on the Submit Assignment button at the top.