Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the...
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Accounting
Shown below is the stockholders' equity section of Tiny Tot's stockholders' equity section of the balance sheet at December 31, 2016: Common stock, $1 par value, 5,000,000 shares authorized, 690,000 shares issued and outstanding Additional paid-in capital $690 00o 1280,000 2650000 $4620.000 Retained earnings Total stockholders' equity During 2017, the following events occurred: Tiny Tot's was authorized to sell 120,000 shares of $100 par, 8% preferred stock Tiny Tot's sold 18,000 shares of the preferred stock at its par value > A cash dividend of $120,000 was paid to the preferred stockholders Tiny Tot's value of the stock was $14 per share Net income for the year was $1,650,000 declared and issued a 10% stock dividend on the common stock, when the mark
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