Prepare the stockholders equity section of balance sheet

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Reference no: EM131294468

Fun Run Corporation was incorporated on January 1. The following equity related transactions occurred during the year. Evaluate these transactions and prepare the equity section of the balance sheet at the end of the year. Issued 1,000,000 shares of $1 par value common stock at $3.00 per share. Issued 10,000 shares of $50 par value preferred stock at $50 per share. Declared and paid dividends to stockholders of $200,000. Reported net income for the year of $1,500,000. A) Prepare the stockholder’s equity section of the balance sheet for the company. B) If the company had repurchased 20,000 shares of the common stock for $60,000 during the year how would this impact the stockholder’s equity section? C) If the company had declared the dividend but not paid it how would this impact the stockholder’s equity section of the balance sheet?

Reference no: EM131294468

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