Question

Napolean Corporation started business on January 1, 2016. The following information was compiled by Napolean’s accountant on December 31, 2016:

Sales Revenue $6,000 Equipment, net $4,500
Expenses 3,600 Building, net 12,000
Dividends 900 Accounts Payable 1,200
Cash 450 Notes Payable 9,900
Accounts Receivable 750 Common Stock 6,000
Inventory 900 Retained Earnings ?

NAPOLEAN CORPORATION
Statement of Stockholders' Equity
For Year Ended December 31, 2016
Common
Stock
Retained
arnings
Total
Balance, January 1, 2016
Add: Net Income for 2016
2,400
2,400
Add: Issuance of Common Stock
6,000
6,000
(900)
7,500
6,000
Less: Dividends paid
(enter as a negative)
(900)
(900)
Balance, December 31, 2016
5,100 $
7,500
expand button
Transcribed Image Text:NAPOLEAN CORPORATION Statement of Stockholders' Equity For Year Ended December 31, 2016 Common Stock Retained arnings Total Balance, January 1, 2016 Add: Net Income for 2016 2,400 2,400 Add: Issuance of Common Stock 6,000 6,000 (900) 7,500 6,000 Less: Dividends paid (enter as a negative) (900) (900) Balance, December 31, 2016 5,100 $ 7,500
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