(Answered) Case - thomson corporationthomson corporation stockholders

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Case - THOMSON CORPORATION

Thomson Corporation Stockholder's Equity December 31, 2013

Common stock (40,000 authorized, 25,000 issued and outstanding with par value of $10 per share.) - $250,000.00

Excess paid in capital on common stock - $125,000.00

Retained Earnings - $500,000.00

Total stockholder's equity - $875,000.00

During the current year, Thomson had the following stock transactions:

The company authorizes the sale of 10% preferred stock, 50,000 shares at par value of $50.
Sold 20,000 shares of preferred stock at $75 per share.
Purchased 5,000 shares of common stock at $20 per share for cash.
Declared and distributed a 2% stock dividend to common stockholders when market price was $25 per share.
Declared and paid $90,000 in cash dividends to common and preferred stockholders.
Sold 2,000 shares of treasury stock at $16 per share.
Net loss is $134,000.

Required: Prepare the stockholder's equity section of the balance sheet for year-end 2013.

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