Question

Marble Corporation had the following balances in its stockholders' equity accounts at December 31, 2015:


Common Stock, $10 par, 50,000 shares authorized, 20,000 shares issued $200,000
Contributed Additional Paid-in Capital Value, Common 250,000
Retained Earnings 500,000
Treasury Stock, 1,000 shares (20,000)
Total stockholders equity $930,000

The following transactions occurred during 2016:


February 3 Sold and issued 3,000 shares of common stock for $22 per share.
May 10 Declared dividends in the amount of $11,000.
October 12 Sold 500 shares of the treasury stock for $20 per share.
December 31 Net income for the year was determined to be $75,000

Required:

Based on the above information, prepare a statement of stockholders' equity for 2016.

Answer

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