Reference no: EM133101995

Puppet Corporation began with an investment by shareholders of $20,000.

a) In its first year, the income earned was $2,000. What would the equity section of its balance sheet show at year-end

- Common stock =

- Retained earnings =

- Total Stockholders' Equity=

b) In the second year, it had an income of $9,000, and a dividend of $3,000 was paid. What would the equity section of its balance sheet show at year-end?

- Common stock =

-Retained earnings =

-Total Stockholders' Equity=

c) In the third year, Puppet sold more shares for a value of $10,000, earned income of $5,000, and paid a dividend of $2,500. What would the equity section of its balance sheet show at year-end?

-Common stock =

-Retained earnings =

-Total Stockholders' Equity=