Notebook Company Had the Following Transactions in 2014, Its First

Essay

Notebook Company had the following transactions in 2014, its first year of operations.
• Issued 2,000 shares of common stock. Stock has par value of $1.00 per share and was issued at $50.00
per share.
• Issued 100 shares of $100 par value preferred stock. Shares were issued at par.
• Earned net income of $95,000.
• Paid dividends of $5,000.
The company charter authorizes 1,000,000 shares of common stock and 100,000 shares of preferred stock.
Please provide the stockholders' equity section of the balance sheet at December 31, 2014. Include information on par values, and the number of shares authorized and issued, where necessary. No subtotals are needed for total paid-in capital, but please show total stockholders' equity on the bottom line.
$$\begin{array} { | l | l | l | l | l | } \hline \text { Account } & \text { Par value info } & \text { Shares authorized } & \text { Shares issued } & \text { Balance } \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline\end{array}$$