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Case
Thomson Corporation Stockholder's EquityDecember 31, 2013
Common stock (40,000 authorized, 25,000 issued and
outstanding with par value of $10 per share.)
$ 250,000.00
Excess paid in capital on common stock
$ 125,000.00
Retained Earnings
$ 500,000.00
Total stockholder's equity
$ 875,000.00
During the current year, Thomson had the following stock transactions:
• The company authorizes the sale of 10% preferred stock, 50,000 shares at par value of $50.• Sold 20,000 shares of preferred stock at $75 per share.• Purchased 5,000 shares of common stock at $20 per share for cash.• Declared and distributed a 2% stock dividend to common stockholders when market price was $25 per share.• Declared and paid $90,000 in cash dividends to common and preferred stockholders.• Sold 2,000 shares of treasury stock at $16 per share.• Net loss is $134,000.
Required:
Prepare the stockholder's equity section of the balance sheet for year-end 2013.
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