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  3. ...... 4. slate corporation had the following bala

...... 4. Slate Corporation had the following balances in its stockholders' equity accounts at December...

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Accounting

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...... 4. Slate Corporation had the following balances in its stockholders' equity accounts at December 31, 2017: Common Stock, $10 par, 500,000 shares authorized, 20,000 shares issued. $200,000 Paid-in Capital in Excess of Par 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 2018: February 3 Sold and issued 2,000 shares of common stock for S22 per share. May 10 Declared a $0.50 per share dividend on common stock. 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. 1. Based on the above information, prepare a statement of stockholders' equity for 2018. Use the form below. Slate Corporation Statement of Stockholders' Equity December 31, 2018 Common Paid-in Capital in Excess Retained Treasury Stock of Par Value, Common Earnings Stock Total Equity Balance, December 31, 2017 $200,000 $250,000 $500,000 S(20,000) $930,000

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