A. Prepare a statement of changes in stockholders' equity for the year ended December 31, 2013 for Baum's Inc.
Accounts Receivable $10,000 Sales 200,000
Accumulated depreciation 52,000 Equipment 120,000
Cost of goods sold 128,000 Selling, general, and administrative expenses 34,000
Income tax expense 8,000 Common stock (9,000) shares 90,000
Cash 65,000 Accounts Payable 15,000
Retained earnings 1/1/13 23,000 Interest expense 6,000
Merchandise inventory 37,000 Long-term debt 40,000
Dividends declared and paid during 2013 12,000
Except as otherwise indicated, assume that all balance sheet items reflect account balances at December 31, 2013, and that all income statement items reflect activites that occurred during the year ended December 31, 2013. There were no changes in paid-in capital during the year.