Finishin Touches has two classes ot stock au onze 716, 7% $10 arpreterred....
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Finishin Touches has two classes ot stock au onze 716, 7% $10 arpreterred. and $1 par value common The Ilo lng transactions ar ct stockholders equ y uring 018 ts tirs ve ro operat ons January 2 Issues 100,000 shares of common stock for $30 per share February 6 issues 2500 shares of 7% preferred stock for $13 per share September 10 Repurchases 12,000 shares of its own common stock for $35 per share. December 15 Reissues 6,000 shares ot treasury stock at $40 per shane In its first year of operations, Finishing Touches has net income of $155,000 and pays dividends at the end of the year of s94,000 ($1 per share) on all common shares outslanding and $1,750 on all preferred shares outstanding. common stock for $35 per share. Required: Prepare the stockhokders' equity section of the balance sheet for Finishing Touches as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.) FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2018 Stockholders' equity: stock referred stock etained earnings Additional paid-in capital Total paid-in capital Total stockholders' equity
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