On March 31, 2015, Outdoor Closets, Inc. had common stock of $230,000, retained earnings of $65,000, and additional paid-in capital--common of $540,000. During the fiscal year ended March 31, 2016, 500 shares of stock were sold for $60,000, of which $40,000 represented additional paid-in capital. The company reported net income of
$140,000 and declared and paid dividends of $80,000. In good form, prepare the financial statement that shows all of the changes in the stockholders' equity accounts.

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The Answer of On March 31, 2015, Outdoor Closets, Inc. had common stock of $230,000, retained earnings of $65,000, and additional paid-in capital--common of $540,000. During the fiscal year ended March 31, 2016, 500 shares of stock were sold for $60,000, of which $40,000 represented additional paid-in capital. The company reported net income of
$140,000 and declared and paid dividends of $80,000. In good form, prepare the financial statement that shows all of the changes in the stockholders' equity accounts.