On January 1, 2007 the Osborne Company reported the following alphabetical list of stockholders' equity items:
Additional paid-in capital on common stock .......................$170,000
Additional paid-in capital on preferred stock ...................... 12,000
Common stock, $2 par ................................................ 80,000
Preferred stock, $100 par ............................................. 60,000
Retained earnings ....................................................... 209,000
During 2007, the company sold 3,000 shares of common stock for $10 per share and 500 shares of preferred stock for $125 per share. It also earned income of $99,000 and paid dividends of $8 per share on the preferred stock and $1.50 per share on the common stock outstanding at the end of 2007.
Required
Prepare a statement of changes in stockholders' equity of the Osborne Company for 2007. (Include retained earnings.)