Reference no: EM131764408
Intelligent Results, Inc organized on January 01, 2005. Intelligent Results, Inc has authorization for 75,000 shares of 5%, $75 Preferred Stock and 1,500,000 shares of $15 Par Value Common Stock. As of December 31, 2014 it has 20,000 outstanding shares of Preferred Stock receiving a total of $1,950,000. Intelligent Results, Inc also has 745,000 shares of Common Stock outstanding receiving a total of $15,000,000.
Retained Earnings Beginning Balance on December, 31, 2014 was $850,000.
During 2015 the following transactions occurred.
On February 09, 2015 Intelligent Results, Inc sold 6,500 shares of Preferred Stock receiving a total of $600,000.
On July 12, 2015 Intelligent Results, Inc sold 25,000 shares of Common Stock receiving a total of $8,000,000.
On November 29, 2015 Intelligent Results, Inc sold 2,300 of Preferred Stock receiving a total of $410,000.
Net Income for 2015 was $1,750,000.
Preferred Stock Dividends paid on December 31, 2015.
A Common Stock Dividend of $1.50 was paid on December 31, 2015.
Required: Prepare a Statement of Stockholder's Equity for the Year of 2015.