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

1. Purchased $351,300 of common stock now held in treasury.
2. Declared cash dividends in the amount of $260,650.
3. Paid the dividends in (b).
4. Issued 113,000 new shares of $0.10 par value common shares for $2 per share.
5. Closed the Dividends account.

3. Prepare a statement of stockholders equity, assuming the following opening balances.

Additional Paid- Common Stock In Capital $ 13,150 $ 196,500 Retained Treasury Earnings Stock $ 151,300 $ 0 Beginning Stock Issuances Net Income 283,000 Dividends: Common Ending