On January 1, 2014, the Stockholders' Equity Section of Gibbons

Essay

On January 1, 2014, the stockholders' equity section of Gibbons Corporation's balance sheet reported the following: $$\begin{array}{l}\text { Common stock, par } \$ 10 \text {, authorized } 100,000 \text { shares, }\\\text { issued 10,000 shares } & \$ 100,000 \\\text { Capital in excess of par } & 50,000 \\\text { Retained earnings } & 160,000\end{array}$$ During 2014, the following selected transactions occurred (assume they occurred in the order given): April 1 $\quad$ Issued a $10 \%$ stock dividend when the market price was $\$ 12$ .
May 1 $\quad$ 200 shares of treasury stock were purchased at $\$ 11$ per share.
Sept. 1 $\quad$ Declared and paid a cash dividend of $\$ 19,800$ .
Dec. 31 $\quad$ Net income was $\$ 30,000$ . Required:
Prepare the stockholders' equity section of the balance sheet as of December 31, 2014.