On March 31,2013,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 31,2014,500 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 31,2013,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 31,2014,500 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.