Exercise 1-7 (Algo) Prepare a statement of stockholders' equity (LO1-3) At the beginning of the...
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Accounting
Exercise 1-7 (Algo) Prepare a statement of stockholders' equity (LO1-3) At the beginning of the year (January 1), Wild Horses Drilling has $12,000 of common stock outstanding and retained earnings of $6,200. During the year, Wild Horses reports net income of $6,500 and pays dividends of $1,200. In addition, Wild Horses issues additional common stock for $6,000. Required: Prepare the statement of stockholders' equity at the end of the year (December 31)
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