Question
Common Stock Issuance, No Par Value, Stock Split, Disclosure. The stockholders’ equity section of Five Voices...
Common Stock Issuance, No Par Value, Stock Split, Disclosure. The stockholders’ equity section of Five Voices Music, Inc.’s balance sheet at December 31, 2017, follows: Stockholders’ Equity Common Stock – no par, 10,000 shares authorized, 1,000 shares issued and outstanding Retained Earnings Total Stockholders’ Equity During 2018, Five Voices Music completed the following transactions: • May 24: Issued 200 no-par common shares for cash amounting to $16,000. • December 1: Implemented a 2-for-1 stock split. • December 31: Announced net income of $50,000 for the year ended December 31, 2018. Based on the information provided, prepare the stockholders’ equity section for Five Voices Music at Decem-ber 31, 2018
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