Reference no: EM13142775
On December 31, 2009, Milo Company had 1,379,300 shares of $5 par common stock issued and outstanding. The stockholders' equity accounts at December 31, 2009, had the balances listed here.
Common Stock $6,896,500
Additional Paid-in Capital 1,811,300
Retained Earnings 1,241,400
Transactions during 2010 and other information related to stockholders' equity accounts were as follows.
1. On January 10, 2010, issued at $110 per share 120,700 shares of $100 par value, 8% cumulative preferred stock.
2. On February 8, 2010, reacquired 20,370 shares of its common stock for $11 per share.
3. On June 8, 2010, declared a cash dividend of $1.40 per share on the common stock outstanding, payable on July 10, 2010, to stockholders of record on July 1, 2010.
4. On December 9, 2010, declared the yearly cash dividend on preferred stock, payable January 10, 2011, to stockholders of record on December 15, 2010.
5. Net income for the year was $3,709,000.
Complete the stockholders' equity section of Milo's Company's balance sheet at December 31, 2010 below.
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