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On January 1, 2020, Ivanhoe Inc. had the following...

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Accounting

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On January 1, 2020, Ivanhoe Inc. had the following stockholders' equity balances. Common Stock (485,000 shares issued) $970,000 Paid-in Capital in Excess of Par-Common Stock 520,000 Common Stock Dividends Distributable Retained Earnings 230,000 540,000 During 2020, the following transactions and events occurred 1. Issued115,000 shares of $2 par value common stock as a result of 15% stock dividend declared on December 15, 2021. 2. Issued 57,500 shares of common stock for cash at $4 per share. 3. Purchased 32,000 shares of common stock for the treasury at $5 per share. 4. Declared and paid a cash dividend of $117,000. 5. Sold 5,000 shares of treasury stock for cash at $5 per share. 6. Earned net income of $375,000. Prepare a stockholders' equity statement for the year. (If an amount reduces the account balan then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Ivanhoe Inc. Stockholders' Equity Statement Capital in Excess of Par- Common Stock CommonCommon DividendsTreasury Retained Earnings Stock Stock DistributableStock To Jan. 1 $ Issued 115,000 share for stock Issued 57,500 shares for cash Purchased 32,000 shares of stock

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