Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; Additional Paid-In Capital, $3,225,000; and Retained Earnings, $12,400,000. During June, Noric issued for cash 50,000 shares of common stock (with a stated value of $1) at $16 per share. Noric reported the following results for the month ended October 31:
Net Income: $2350,000
Cash dividend declared 475,000
Required:
Prepare a statement of stockholders' equity for the month ended October 31.
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Noric Cruises Inc. began the month of October with the following balances: Common Stock, $150,000; A...
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