The shareholders' equity of Saturn Corporation as of December 31,2013,follows:
Saturn Corporation completed the following transactions during 2014:
Feb. 6 Declared the required antutal cash dividend on preferred shares and a per share cash dividend on the common shares.
26 Paid the cash dividend that was declared on February 6.
Jurn, 4 Purchased 4,000 of its own common shares for per share.
Iul. 5 Distributed a 2-for-1 stock split on the common shares.
Dec. 31 Closed out the income summary account with a debit balance of 48,000 . Prepare the shareholders' equity section of the balance sheet of Saturn Corporation as of December 31,2014.Do not prepare journal entries for the above transactions.
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