Tacoma Company had the following balances in its stockholders' equity accounts at December 31, 2018:Common Stock, $10 par, 100,000 shares authorized, 40,000 shares issued$400,000Contributed Additional Paid-in Capital Value, Common500,000Retained Earnings 1,000,000Treasury Stock, 2,000 shares (40,000)Total stockholders' equity$1,860,000 The following transactions occurred during 2019:February 3Sold and issued 6,000 shares of common stock for $22 per share.May 10Declared dividends in the amount of $22,000.October 12Sold 1,000 shares of the treasury stock for $20 per share.December 31Net income for the year was determined to be $150,000Required:Based on the above information, prepare a statement of stockholders' equity for 2019.
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TACOMA COMPANY
Statement of Stockholders' Equity
For the Year Ended December 31, 2019
Common StockAdditional Paid-in CapitalRetained EarningsTreasury StockTotal
| Balance, January 31, 2019 | $400,000 | $500,000 | $1,000,000 | $(40,000) | $1,860,000 |
| Net income | ? | ? | 150,000 | ? | 150,000 |
| Issuance of common stock | 60,000 | 72,000 | ? | ? | 132,000 |
| Reissuance of treasury stock | ? | ? | ? | 20,000 | 20,000 |
| Cash dividend | ? | ? | (22,000) | ? | (22,000) |
| Balance, December 31, 2019 | $460,000 | $572,000 | $1,128,000 | $(20,000) | $2,140,000 |
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