The stockholders' equity section of Barrel Corporation's balance sheet on December 31, 2026, appears below:
Stockholders' equity
Paid-in capital
Common stock, $10 par value, 400,000 shares authorized:
250,000 issued and outstanding
$2,500,000
Paid-in capital in excess of par
1,200,000
Total paid-in capital
3,700,000
Retained earnings
600,000
Total stockholders' equity
$4,300,000
During 2027, the following stock transactions occurred:
Jan. 18 Issued 50,000 shares of common stock at $32 per share
Aug. 20 Purchased 25,000 shares of Barrel Corporation's common stock at $24 per share to be held in the treasury
Nov. 5 Reissued 9,000 shares of treasury stock for $28 per share
Prepare the stockholders' equity section of the balance sheet for Barrel Corporation on December 31, 2027. Assume that net
income for the year was $150,000 and that no dividends were declared. (Enter the account name only and do not provide the
descriptive information provided in the question.)
BARREL CORPORATION
Balance Sheet (Partial)
December 31, 2027
