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Prepare the company equity section from December

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Reference no: EM132886789

Question -

1. Sunlight issued 1,000 shares of $1 par value common stock for $70 per share on January 1, 2015

2. Sunlight issued 500 shares of no par value, $5, non-cumulative preferred stock for $50 per share on January 1, 2015.

3. Sunlight reported net income of $2,000 during 2015 and paid no dividends. Prepare the company's equity section of the December 31, 2015, balance sheet.

4. On January 1, 2016, Sunlight purchased 200 shares of its common stock for $60 per share.

5. On December 15, 2016, Sunlight declared and paid dividends totaling $6,600 during 2016.

Required - Prepare the company's equity section from December 31, 2016.

Reference no: EM132886789

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