Problem 11-6A On January 1, 2017, Sage Hill Inc. had these stockholders' equity balances. Common...
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Problem 11-6A On January 1, 2017, Sage Hill Inc. had these stockholders' equity balances. Common Stock, $1 par (3,000,000 shares authorized, 705,000 shares issued and outstanding) Paid-in Capital in Excess of Par Value Retained Earnings Accumulated Other Comprehensive Income $705,000 1,460,000 699,000 61,000 During 2017, the following transactions and events occurred. 1. 2. 3. 4. 5. 6. Issued 51,000 shares of $1 par value common stock for $5 per share. Issued 59,000 shares of common stock for cash at $5 per share. Purchased 19,100 shares of common stock for the treasury at $3.30 per share. Declared and paid a cash dividend of $219,500. Earned net income of $437,500. Had other comprehensive income of $19,000. Prepare the stockholders' equity section of the balance sheet at December 31, 2017. SAGE HILL INC. Partial Balance Sheet Click if you would like to Show Work for this question: Open Show Worlk
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