Develop the Stockholders’ Equity category of Whitacre’s balance sheet as of December 31, 2017.

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Whitacre Company’s Stockholders’ Equity section of the balance sheet on December 31, 2016, was as follows: Common stock, $10 par value, 60,000 shares issued and outstanding ……………$ 600,000 Additional paid-in capital ……………………………………………………………480,000 Retained earnings …………………………………………………………………..1,240,000 Total stockholders’ equity …………………………………………………………$2,320,000 On May 1, 2017, Whitacre declared and issued a 15% stock dividend, when the stock was selling for $20 per share. Then on November 1, it declared and issued a 2-for-1 stock split. Required 1. How many shares of stock are outstanding at year-end? 2. What is the par value per share of these shares? 3. Develop the Stockholders’ Equity category of Whitacre’s balance sheet as of December 31, 2017. View Solution:
Whitacre Company s Stockholders Equity section of the balance sheet on