178.Using the following accounts and balances, prepare the stockholders’ equity section of the balance sheet. Fiftythousand shares of common stock are authorized, and 5,000 shares have been reacquired.
Common Stock, $50 par
$1,250,000
Paid-In Capital in Excess of Par
800,000
Paid-In Capital from Sale of Treasury Stock
42,000
Retained Earnings
4,350,000
Treasury Stock
155,000
179.Big Bluestem Inc. reported the following results for the year ending April 30:
Retained earnings, May 1
$3,750,000
Net income
720,000
Cash dividends declared
80,000
Stock dividends declared
220,000
Prepare a retained earnings statement for the fiscal year ended April 30.
180.Using the following information, prepare the stockholders’ equity section of the balance sheet. Seventy thousandshares of common stock are authorized and 7,000 shares have been reacquired.
Common Stock, $75 par
$4,725,000
679,000
25,200
2,032,800
600,000
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