Purpose: (L.O. 8) This exercise will illustrate the preparation of a stockholders' equity statement.
On January 1, 2014, Huseman Corporation had the following stockholders' equity balances:
|Common Stock ($1 stated value)||$300,000|
|Paid-in Capital in Excess of Stated Value||710,000|
|Treasury Stock (3,000 shares)||6,000|
During 2014, the following occurred:
Prepare a stockholders' equity statement for the year ending December 31, 2014.