Use the following information to prepare the shareholders' equity section of the balance sheet for Rooney Incorporated:
a. Common Stock - $.15 par value: 100,000 shares authorized, 39,000 shares outstanding as of December 31
b. Retained Earnings, December 31, $54,000
c. Treasury Stock - Rooney repurchased 1,500 shares at $25 per share
d. Total Shareholders' Equity as of December 31 is $290,000

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The Answer of Use the following information to prepare the shareholders' equity section of the balance sheet for Rooney Incorporated:
a. Common Stock - $.15 par value: 100,000 shares authorized, 39,000 shares outstanding as of December 31
b. Retained Earnings, December 31, $54,000
c. Treasury Stock - Rooney repurchased 1,500 shares at $25 per share
d. Total Shareholders' Equity as of December 31 is $290,000

Use the Following Information to Prepare the Shareholders' Equity Section