Court Casuals has the following beginning balances in its stockholders' equity accounts on January 1, 2012: Common Stock, $100,000; Additional Paid-in Capital, $4,100,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2012, is $800,000. Court Casuals has the following transactions affecting stockholders' equity in 2012:

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The Answer of Court Casuals has the following beginning balances in its stockholders' equity accounts on January 1, 2012: Common Stock, $100,000; Additional Paid-in Capital, $4,100,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2012, is $800,000. Court Casuals has the following transactions affecting stockholders' equity in 2012:

Court Casuals Has the Following Beginning Balances in Its Stockholders