Question

Statement of Stockholders' Equity The stockholders' equity T accounts of I-Cards Inc. for the fiscal year ended December 31, 2019, are as follows. COMMON STOCK Jan. 1 Balance 2,100,000 Apr. 14 Issued 18,600 shares 930,000 Dec. 31 Balance 3,030,000 336,000 PAID-IN CAPITAL IN EXCESS OF PAR Jan. 1 Balance Apr. 14 Issued 18,600 shares Dec. 31 Balance 223,200 559,200 TREASURY STOCK Aug. 7 Purchased 3,100 shares 148,800 3,650,000 Mar. 31 June. 30 Sept. 30 Dec. 31 Dividend Dividend Dividend Dividend RETAINED EARNINGS 54,000 an. 1 54,000 Dec. 31 54,000 54,000 Dec. 31 Balance Closing (Net income) Balance 548.000 3,982,000 Prepare a statement of stockholders' equity for the year ended December 31, 2019. If an amount is zero or an entry is not required, leave the box blank. Also, if an amount reduces Stockholders' Equity, then add "minus" sign. I-Cards Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2019 Common Stock $50 Par Paid-In Capital in Excess of Par Treasury Stock Retained Earnings Total Balance, Jan. 1, 2049 Issued 18,600 shares of Common Stock Purchased 3,100 shares as Treasury Stock Net Income Dividends Balance, Dec. 31, 2019

Answer 1

Answer

--Requirement, as asked

I-Cards Inc.
Statement of Stockholders' Equity
For the Year Ended December 31, 20Y9
	Common Stock $50 Par	Paid-In Capital in Excess of Par	Treasury Stock	Retained Earnings	Total
Balance, Jan. 1, 20Y9	$2,100,000	$336,000	$0	$3,650,000	$6,086,000
Issued 18600 shares of Common Stock	$930,000	$223,200	$0	$0	$1,153,200
Purchased 3100 shares as Treasury Stock	$0	$0	($148,800)	$0	($148,800)
Net Income	$0	$0	$0	$548,000	$548,000
Dividends	$0	$0	$0	($216,000)	($216,000)
Balance, Dec. 31, 20Y9	$3,030,000	$559,200	($148,800)	$3,982,000	$7,422,400