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10 Shelby Corporation was organized in January to operate an alr-conditioning sales and service business....

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Accounting

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10 Shelby Corporation was organized in January to operate an alr-conditioning sales and service business. The charter issued by the state authorized the following capital stock: Common stock, $1 par value, 200,000 shares. Preferred stock, $10 par value, 6 percent, 50,000 shares. 10 points During January and February, the following stock transactions were completed: 8 04:35:16 a. Collected $841,000 cash and issued 29,000 shares of common stock. b. Issued 19,500 shares of preferred stock at $39 per share; collected in cash. eBook Net Income for the year was $59,000; cash dividends declared and paid at year-end were $10,000. Print Required: Prepare the stockholders' equity section of the balance sheet at December 31. References SHELBY CORPORATION Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital: Total Contributed Capital Total Stockholders' Equity

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