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Business, 03.09.2021 01:20 gael6529

At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding and retained earnings of $8,200. During the year, Buffalo reports net income of $8,500 and pays dividends of $3,200. In addition, Buffalo issues additional common stock for $8,000. Required:
Prepare the statement of stockholders’ equity at the end of the year (December 31).

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At the beginning of the year (January 1), Buffalo Drilling has $11,000 of common stock outstanding a...
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