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2) Part 2: Rahmig Company was incorporated on March 1, 20X5. The following equity...

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Accounting

2) Part 2: Rahmig Company was incorporated on March 1, 20X5. The following equity related transactions occurred during the remainder of year 20X5. Evaluate these transactions and prepare a statement of shareholders equity for the year ending December 31, 20X5.

Issued 2,000,000 shares of $2.00 par value common stock at $8.00 per share.

Declared and issued a 20% stock dividend (400,000 shares) at a time when the market value was $12.00 per share

Reacquired 30,000 treasury shares at $ 9.00 per share.

Declared and paid cash dividends of $ 331,800

Reported net income for the year of $ 6,890,000

Complete the following.

Rahmig Corporation

Statement of Stockholders Equity

For the Year Ended December 31, 20X5

Balance, March 1

Common Stock, $2 par

Paid in Capital in Excess of Par

Retained Earnings

Treasury Stock

Total Stockholders Equity

Issue additional shares

Purchase treasury stock

Net income

Cash dividends

Stock dividend

Balance December 31, 20X5

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