*P12-9A On January 1, 2008, Hamblin Inc. had the following stockholders’ equity balances.

Price: $2.50


On January 1, 2008, Hamblin Inc. had the following stockholders’ equity balances.

Common Stock (500,000 shares issued)				1,000,000
Paid-in Capital in Excess of Par Value				500,000
Common Stock Dividends Distributable				100,000
Retained Earnings				600,000

During 2008, the following transactions and events occurred.

1. Issued 50,000 shares of $2 par value common stock as a result of 10% stock dividend declared
on December 15, 2007.
2. Issued 30,000 shares of common stock for cash at $5 per share.
3. Purchased 25,000 shares of common stock for the treasury at $6 per share.
4. Declared and paid a cash dividend of $111,000.
5. Sold 8,000 shares of treasury stock for cash at $6 per share.
6. Earned net income of $360,000.

Instructions
Prepare a stockholders’ equity statement for the year.