The stockholders’ equity T accounts of I-Cards Inc. for the current fiscal year ended December 31, 2014, are as follows. Prepare a statement of stockholders’ equity

The stockholders’ equity T accounts of I-Cards Inc. for the current fiscal year ended December 31, 2014, are as follows. Prepare a statement of stockholders’ equity for the fiscal year ended December 31, 2014.

























COMMON STOCK
Jan. 1 Balance 4,800,000
Apr. 14 Issued
30,000 shares 1,200,000
Dec. 31 Balance 6,000,000
PAID-IN CAPITAL IN EXCESS OF PAR
Jan. 1 Balance 960,000
Apr. 14 Issued
30,000 shares 300,000
Dec. 31 Balance 1,260,000
TREASURY STOCK
Aug. 7 Purchased
12,000 shares 552,000
RETAINED EARNINGS
Mar. 31 Dividend 69,000 Jan. 1 Balance 11,375,000
June 30 Dividend 69,000 Dec. 31 Closing
(net income) Sept. 30 Dividend 69,000 3,780,000
Dec. 31 Dividend 69,000 Dec. 31 Balance 14,879,000









Answer:

















I-CARDS INC.
Statement of Stockholders’ Equity
For the Year Ended December 31, 2014
Common
Stock,
$40 par
Paid-In
Capital in
Excess
of Par
Treasury
Stock
Retained
Earnings Total
Balance, Jan. 1, 2014 $4,800,000 $ 960,000 — $11,375,000 $17,135,000
Issued 30,000 shares
of common stock 1,200,000 300,000 1,500,000
Purchased 12,000 shares
as treasury stock $(552,000) (552,000)
Net income 3,780,000 3,780,000
Dividends (276,000) (276,000)
Balance, Dec. 31, 2014 $6,000,000 $1,260,000 $(552,000) $14,879,000 $21,587,00