Anderson Corporation reports the following Stockholders’ Equity on its Balance Sheet as of December 31, 2012:
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Preferred 5% Stock, $50 par (100,000 shares authorized,
25,000 shares issued) . . . . . . . . . . . . . . . . . . . . . . . $1,250,000
Paid-In Capital in Excess of Par – Preferred Stock . . . . . . 250,000 $1,500,000
Common Stock, $1 par (1,000,000 shares authorized,
150,000 shares issued) . . . . . . . . . . . . . . . . . . . . . . 150,000
Paid-In Capital in Excess of Par – Common Stock . . . . . . 100,000 250,000 $1,750,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,550,000
Total Stockholders’ Equity . . . . . . . . . . . . . . . . . . . . . . . $4,300,000
The Board of Directors for Anderson Corporation declared a 3-for-1 common stock split. Below you are to correctly rewrite the Stockholders’ Equity portion of Anderson Corporation’s Balance Sheet after the stock split. Get Accounting Homework Help Today
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