The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2020. In 2020, 15,000 shares were authorized and 7,000 shares of common stock ($50 par value) were issued at a price of $57. In 2021, 1,000 shares were bought in 2022 at a cost of $64 per share. these 300 shares are still in the company treasury. In 2021, 10,000 preferred shares were authorized and the company issued 5,000 of them ($100 par value) at $113. Some of the preferred stock was reacquired by the company and later reissued for $4,700 more than it cost the company. The corporation has earned a total of $610,000 in net income taxes and paid out a total of $312,600 in cash dividends since incorporation. Instructions: Prepare the stockholders' equity of the balance sheet in proper form for Vicario Corporation as of December 31, 2022. Account for treasury stock using the cost method.
The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2020.
In 2020, 15,000 shares were authorized and 7,000 shares of common stock ($50 par value) were issued at a price of $57. In 2021, 1,000 shares were bought in 2022 at a cost of $64 per share. these 300 shares are still in the company treasury.
In 2021, 10,000
The corporation has earned a total of $610,000 in net income taxes and paid out a total of $312,600 in cash dividends since incorporation.
Instructions:
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