Following is the stockholders' equity section of Lewis Corporation's balance sheet on December 31, 2013.
During 2014, the following transactions occurred:
•2,000 shares of common stock were issued for cash at $25 per share.
•750 shares of preferred stock were issued for cash at $124 per share.
•400 shares of treasury stock were reissued for cash at $25 per share.
•The final payments on the subscribed common stock were received, and 3,000 shares of common stock were issued.
•On July 1, 2014, Lewis purchased equity securities for $50,000 and classified them as available for sale. The fair value of these securities was $60,000 on December 31, 2014.
•Net income for 2014 was $228,000 and total dividends paid were $81,000.
Required:
Prepare in good form a statement of changes in stockholders' equity for Lewis Corporation for the year ended December 31, 2014.

Question

Following is the stockholders' equity section of Lewis Corporation's balance sheet on December 31, 2013.   
During 2014, the following transactions occurred:
•2,000 shares of common stock were issued for cash at $25 per share.
•750 shares of preferred stock were issued for cash at $124 per share.
•400 shares of treasury stock were reissued for cash at $25 per share.
•The final payments on the subscribed common stock were received, and 3,000 shares of common stock were issued.
•On July 1, 2014, Lewis purchased equity securities for $50,000 and classified them as available for sale. The fair value of these securities was $60,000 on December 31, 2014.
•Net income for 2014 was $228,000 and total dividends paid were $81,000.
Required:
Prepare in good form a statement of changes in stockholders' equity for Lewis Corporation for the year ended December 31, 2014.

Quizplus · Accepted Answer

The Answer of Following is the stockholders' equity section of Lewis Corporation's balance sheet on December 31, 2013.   
During 2014, the following transactions occurred:
•2,000 shares of common stock were issued for cash at $25 per share.
•750 shares of preferred stock were issued for cash at $124 per share.
•400 shares of treasury stock were reissued for cash at $25 per share.
•The final payments on the subscribed common stock were received, and 3,000 shares of common stock were issued.
•On July 1, 2014, Lewis purchased equity securities for $50,000 and classified them as available for sale. The fair value of these securities was $60,000 on December 31, 2014.
•Net income for 2014 was $228,000 and total dividends paid were $81,000.
Required:
Prepare in good form a statement of changes in stockholders' equity for Lewis Corporation for the year ended December 31, 2014.

Following Is the Stockholders' Equity Section of Lewis Corporation's Balance