- Pearl Company Has Two Classes Of Capital Stock Outstanding 8 20 Par Preferred And 5 Par Common At December 31 202 1 (35.55 KiB) Viewed 43 times
Pearl Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2020, the following accounts were included in stockholders' equity. Preferred Stock, 148,100 shares Common Stock, 1,961,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings Jan. 1 $ 2,962,000 9,805,000 191,000 The following transactions affected stockholders' equity during 2021. 28,400 shares of preferred stock issued at $24 per share. 53,400 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 31,100 shares of common treasury stock purchased at $10 per share. Pearl uses the cost method. 9,900 shares of treasury stock reissued at $11 per share. The preferred dividend is declared, and a common dividend of 54¢ per share is declared. Net income is $2,093,000. Feb. 1 June 1 July 1 Sept. 15 Dec. 31 Dec. 31 27,124,000 4,537,000
Prepare the stockholders' equity section for Pearl Company at December 31, 2021. (Enter account name only and do not provide descriptive information.) PEARL COMPANY Stockholders' Equity $ $ $