Marble Corporation Had the Following Balances in Its Stockholders' Equity

question 61

Essay

Marble Corporation had the following balances in its stockholders' equity accounts at December 31,2012:
$\begin{array}{|l|r|}\hline\text { Common Stock, } \$ 10 \text { par, } 50,000 \text { shares authorized, } 20,000 \text { shares issued } & \$ 200,000 \\\hline \text { Contributed Capital in Excess of Par Value, Common } & 250,000 \\\hline \text { Retained Earmings } & 500,000 \\\hline \text { Treasury Stock, } 1,000 \text { shares } & (20,000) \\\hline \text { Total stockholders' equity } & \$ 930,000\\\hline\end{array}$

The following transactions occurred during 2013:
$\begin{array}{|l|l|}\hline \text { February } 3 & \text { Sold and issued } 3,000 \text { shares of common stock for } \$ 22 \text { per share } \\\hline \text { May } 10 & \text { Declared a } \$ 0.50 \text { per share dividend on common stock } \\\hline \text { October } 12 & \text { Sold } 500 \text { shares of the treasury stock for } \$ 20 \text { per share. } \\\hline \text { December } 31 & \text { Net income for the year was determined to be } \$ 75,000\\\hline\end{array}$

Based on the above information,prepare a statement of stockholders' equity for 2013.Use the form below.

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Definitions:

Cycloalkanes

Saturated, ring-shaped hydrocarbons with the general formula CnH2n, where n is the number of carbon atoms in the ring.

Trans-1,4-Dipropylcyclohexane

A chemical compound featuring a cyclohexane ring with propyl groups attached at the 1 and 4 positions in a trans configuration.

Stable Conformation

The spatial arrangement of atoms in a molecule that is energetically favorable and has lower internal strain.

Cis-1,4-Dipropylcyclohexane

A cyclohexane derivative where two propyl groups are positioned on the same side of the cyclohexane ring at the 1st and 4th positions.