The stockholders equity section of Five Voices Music Inc s

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The stockholders’ equity section of Five Voices Music, Inc.’ s balance sheet at December 31,
2015 follows:Stockholders’ Equity Common Stock – no par, 10,000 shares authorized, 1,000
shares issued and outstanding ……………………………………………… $ 90,000 Retained Earnings
…………………………………………………... 360,000 Total Stockholders’ Equity……………..……………
450,000During 2016, Five Voices Music completed the following transactions: • May 24, 2016:
Issued 200 no par common shares for cash amounting to $ 16,000. • December 1, 2016:
Implemented a two- for- one stock split. • December 31, 2016: Announced net income of $
50,000 for the year ended December 31, 2016. Based on the information provided, prepare the
stockholders’ equity section for Five Voices Music, Inc. at December 31, 2016.View Solution:
The stockholders equity section of Five Voices Music Inc s

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