The Following Is Selected Financial Information for Osmond Dental Laboratories

question 45

Essay

The following is selected financial information for Osmond Dental Laboratories for 2008 and 2009:
Osmond issued 2,000 shares of additional capital stock in 2009 for $20,000. There were no other capital transactions.
Required: Prepare a statement of shareholders' equity for Osmond Dental Laboratories for the year ended December 31, 2009.
$\begin{array}{lrr}&2008&2009\\\text { Retained earnings, January } 1 & \$ 53,000 & ? \\\text { Net income } & 37,000 & 42,000 \\\text { Dividends declared and paid } & 15,000 & 18,000 \\\text { Capital stock } & 70,000 & ?\end{array}$

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Definitions:

Temperament

The innate part of an individual’s personality, including aspects of mood, behavior tendencies, and emotional responses.

Extended Family

Multigenerational kinship network of parents, children, and other relatives, sometimes living together in an extended-family household.

Postpartum Depression

A mood disorder affecting women after childbirth, characterized by feelings of sadness, worthlessness, and anxiety.

Early Development

involves the period of rapid physical, cognitive, social, and emotional changes that occur from birth through early childhood.