Business, 21.01.2021 21:40 Homepage10

Exercise 1-7A Prepare a statement of stockholders' equity (LO1-3) At the beginning of the year (January 1), Buffalo Drilling has $12,000 of common stock outstanding and retained earnings of $7,400. During the year, Buffalo reports net income of $7,700 and pays dividends of $2,400. In addition, Buffalo issues additional common stock for $7,200. Required: Prepare the statement of stockholders' equity at the end of the year (December 31).

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Exercise 1-7A Prepare a statement of stockholders' equity (LO1-3) At the beginning of the year (Janu...

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