Marble Corporation Had the Following Balances in Its Stockholders' Equity

Essay

Marble Corporation had the following balances in its stockholders' equity accounts at December 31,2009:
$\begin{array}{|l|r|}\hline \text { Common Stock, } \$ 10 \text { par, } 50,000 \text { shares authorized, } 20,000 \text { shares issued } & \$ 200,000 \\\hline \text { Contributed Capital in Excess of Par Value, Common } & 250,000 \\\hline \text { Retained Earnings } & 500,000 \\\hline \text { Treasury Stock, 1,000 shares } & (20,000) \\\hline \text { Total stockholders' equity } & \$ 930,000\\\hline\end{array}$

The following transactions occurred during 2010:
$\begin{array}{|l|l|}\hline \text { February } 3 & \text { Sold and issued 3,000 shares of common stock for } \$ 22 \text { per share. } \\\hline \text { May 10 } & \text { Declared a } \$ 0.50 \text { per share dividend on common stock. } \\\hline \text { October } 12 & \text { Sold } 500 \text { shares of the treasury stock for } \$ 20 \text { per share. } \\\hline \text { December } 31 & \text { Net income for the year was determined to be } \$ 75,000\\\hline\end{array}$

Based on the above information,prepare a statement of stockholders' equity for 2010.Use the form below.