Preferred Stock, ($100 par value, 3% noncumulative, 50,000 shares authorized, 5,000 shares issued

and outstanding)

$500,000

Common Stock ($10 par value, 200,000 shares authorized, 100,000 shares issued and outstanding)

$1,000,000

Paid-in Capital in Excess of par, Common

200,000

Retained Earnings

700,000

1. On January 1, Moon Corp. declared a 5% stock dividend on its common stock when the market value of the common stock was $11 per share. Stock dividends were distributed on January 31 to shareholders as of January 25.
2. On February 15, Moon Corp. reacquired 500 shares of common stock for $12 each.
3. On March 31, Moon Corp. reissued 250 shares of treasury stock for $20 each.
4. On July 1, Moon Corp. reissued 250 shares of treasury stock for $10 each.
5. On October 1, Moon Corp. declared full year dividends for preferred stock and $1.00 cash dividends for outstanding shares and paid shareholders on October 15.
6.   On December 15, Moon Corp. split common stock 2 shares for 1.
7. Net Income for 2016 was $200,000.

A. Prepare journal entries?

B. Stockholders’ section of a classified balance sheet as of December 31, 2017

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