Problem
Hatch Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2014, the following accounts were included in stockholders' equity.
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Preferred Stock, 155,200 shares
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$ 3,104,000
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Common Stock, 2,079,000 shares
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10,395,000
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Paid-in Capital in Excess of Par-Preferred Stock
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201,800
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Paid-in Capital in Excess of Par-Common Stock
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27,760,000
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Retained Earnings
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4,521,000
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The following transactions affected stockholders' equity during 2015.
Jan. 1 31,000 shares of preferred stock issued at $24 per share.
Feb. 1 60,200 shares of common stock issued at $22 per share.
June 1 2-for-1 stock split (par value reduced to $2.50).
July 1 33,100 shares of common treasury stock purchased at $10 per share. Hatch uses the cost method.
Sept. 15 10,900 shares of treasury stock reissued at $11 per share.
Dec. 31 The preferred dividend is declared, and a common dividend of 50¢ per share is declared.
Dec. 31 Net income is $2,215,000.
Prepare the stockholders' equity section for Hatch Company at December 31, 2015. (Enter account name only and do not provide descriptive information.)