The following information pertains to Ming Corp. at January 1, 2018: Common stock, $12 par,...
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The following information pertains to Ming Corp. at January 1, 2018: Common stock, $12 par, 47,000 shares authorized, 3,300 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $39,600 89,700 89,700 Ming Corp. completed the following transactions during 2018: 1. Issued 2500 shares of $12 par common stock for $17 per share. 2. Repurchased 1,200 shares of its own common stock for $20 per sha 3. Resold 720 shares of treasury stock at $22 per share. 4. Earned $56,400 of cash revenues. 5. Paid $40,350 of cash operating expenses Required Prepare the stockholders' equity section of the year-end balance sheet MING CORPORATION Balance Sheet (Partial) As of December 31, 2018 Stockholders' Equity Total paid-in capital $ 0 Total stockholders' equity $ 0
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