The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2016, are as follows. Prepare a statement of stockholders' equity for the fiscal year ended December 31, 2016.

Transcribed Image Text:

COMMON STOCK Jan. 1 Balance Apr. 14 Issued 4,800,000 30,000 shares 1,200,000 6,000,000 Dec. 31 Balance PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance Apr. 14 Issued 960,000 30,000 shares 300,000 1,260,000 Dec. 31 Balance TREASURY STOCK Aug. 7Purchased 2,000 shares 552,000 RETAINED EARNINGS Mar. 31 Dividend June 30 Dividend Sept. 30 Dividend Dec. 31 Dividend 69,000 Jan. 1 Balance 69,000 Dec. 31 Closing 69,000 69,000Dec. 31 Balance 11,375,000 (net income) 3,780,000 14,879,000