Use the data from E8-50B to prepare the shareholders’ equity section of the balance sheet at year end. Net income for the year was $90,000.

In E8-50B, On the first day of the fiscal year, TH Construction, Inc., had 150,000 shares of $1.00 par common stock issued (at par) and outstanding, and the retained earnings balance was $275,000. Show each of the following transactions in the accounting equation:

1. Issued 10,000 additional shares of common stock for $5 per share

2. Declared and distributed a 10% stock dividend when the market price was $5 per share

3. Issued 20,000 additional shares of common stock for $7 per share

4. Declared a cash dividend on outstanding shares of $0.75 per share

5. Paid the dividend declared in item (4)

6. Purchased 8,000 shares of treasury stock for $9 per share

7. Sold 6,500 shares of treasury stock for $10 per share

8. Sold 1,400 shares of treasury stock for $8 per share

9. Declared 2-for-1 stock split