EX 13-19 Statement of stockholders’ equity

The stockholders’ equity T accounts of Life’s Greeting Cards Inc. for the current fiscal year ended December 31, 2012, are as follows. Prepare a statement of stockholders’ equity for the fiscal year ended December 31, 2012.


COMMON STOCK
Jan. 1 Balance 3,000,000
Mar. 7 Issued
27,000 shares 1,350,000
Dec. 31 Balance 4,350,000
PAID-IN CAPITAL IN EXCESS OF PAR
Jan. 1 Balance 480,000
Mar. 7 Issued
27,000 shares 324,000
Dec. 31 Balance 804,000
TREASURY STOCK
Aug. 7 Purchased
4,500 shares 216,000
RETAINED EARNINGS
Mar. 31 Dividend 37,500 Jan. 1 Balance 5,220,000
June 30 Dividend 37,500 Dec. 31 Closing
(net income) Sept. 30 Dividend 37,500 765,000
Dec. 31 Dividend 37,500 Dec. 31 Balance 5,835,000










Answer:

LIFE’S GREETING CARDS INC.
Statement of Stockholders’ Equity
For the Year Ended December 31, 2012
 Paid-In
 Common Capital in
 Stock Excess Treasury Retained
 $50 Par of Par Stock Earnings Total
Balance, Jan. 1, 2012...... $3,000,000 $480,000 — $5,220,000 $ 8,700,000
Issued 27,000 shares
 of common stock........ 1,350,000 324,000 1,674,000
Purchased 4,500
 shares as treasury
 stock ............................ $(216,000) (216,000)
Net income ...................... 765,000 765,000
Dividends......................... (150,000) (150,000)
Balance, Dec. 31, 2012 ... $4,350,000 $804,000 $(216,000) $5,835,000 $10,773,000

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