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Prepare a statement of stockholders equity E17 At the beginning of the year January 1 Buffalo Drilling has $11000 of common stock outstanding and retained earnings of $8200 During the

Prepare a statement of stockholders' equity

E1–7 At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding

and retained earnings of $8,200. During the year, Buffalo reports net income of $8,500 and pays dividends

of $3,200. In addition, Buffalo issues additional common stock for $8,000.

Required:

Prepare the statement of stockholders’ equity at the end of the year (December 31).

 

May 18 2020 View more View Less

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