Question: On January 1, 2017, Kimbel Inc. had these stockholders' equity balances
During 2017, the following transactions and events occurred.
1. Issued 50,000 shares of $1 par value common stock for $3 per share.
2. Issued 60,000 shares of common stock for cash at $4 per share.
3. Purchased 20,000 shares of common stock for the treasury at $3.80 per share.
4. Declared and paid a cash dividend of $207,000.
5. Earned net income of $410,000. 6. Had other comprehensive income of $17,000
Instructions: Prepare the stockholders' equity section of the balance sheet at December 31, 2017.