The stockholders equity accounts of Tender Heart Greeting Cards Inc. for the current fiscal year ended December

The stockholders’ equity accounts of Tender Heart Greeting Cards Inc. for the current fiscal year ended December 31, 2006, are shown on the following page. Prepare a statement of stockholders’ equity for the fiscal year ended December 31,2006.

Transcribed Image Text:

ACCOUNT Common Stock, $2 Par Balance Date Item Debit Credit Debit Credit 1Balance ar. 13 Issued 50,000 shares 500 00000 10000000 ACCOUNT Paid-In Capital in Excess of Par Balance Date ltem Debit Credit Debit Credit 40000000 445 00000 1Balance Mar. 13 Issued 50,000 shares 4500000 ACCOUNT Treasury Stock Balance Date ltem Debit 2500000 Credit Debit 2500000 Credit p, 30Purchased 10,000 shares ACCOUNT Retained Earnings Balance Date Item Debit Credit Debit Credit 1 Balance 31 Income summary 31 Cash dividends 24000000 1315 00000 5000000 ACCOUNT Cash Dividends Balance Date 30 30 Item Debit 2500000 2500000 Credit Debit 2500000 5000000 Credit une 31 Closing 5000000