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The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2010.
In 2010, 15000 shares were authorized and 7000 shares of common stock ($50 par value) were issued at at price of $57. In 2011, 1000 shares were issued as a stock dividend when the stock was selling for $60. Three hundred shares of common stock were bought in 2012 at a cost of $64 per share. These 300 shares are still in the company treasury.
In 2011, 10000 preferred shares were authorized and the company issued 5000 of them ($100 par value) at $113. Some of the preferred stock was reacquired by the company and later reissued for $4700 more than it cost the company.
The corporation has earned a total of $610000 in net income after income taxes and paid out a total of $312600 in cash dividends since incorporation.
Prepare the stockholder's equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2012. Account for treasury stock using the cost method.
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