PICK-A-PET, INCORPORATED Balance Sheet at June 30, Year 1 Assets   Liabilities   Cash $ 732,900 Accounts Payable $ 348,900 Accounts Receivable 419,500 Notes Payable due June 30, Year 3 268,900 Supplies 58,430 Total Liabilities 617,800 Equipment 118,800 Stockholders' Equity   Other Assets 69,430 Common Stock 661,800

CYCLONE, INC. Statement of Stockholders' Equity Year ended Dec. 31, 2021 Common Stock Total Stockholders' Retained Earnings Equity Beginning balance Issuances of stock Add: Net income Less: Dividends 2$ 13,000 $ 6,000 $ 19,000 4,000 4,000 Ending balance 2$ 15,000 $ 7,000 $ 22,000

Reporting stockholders' equity items on statement of cash flows On the basis of the following stockholders' equity accounts, indicate the items, exclusive of net income, to be reported on the statement of cash flows. There were no unpaid dividends at either the beginning or the end of the year. ACCOUNT Common Stock, $40 par ACCOUNT NO. Date Item January 1 Balance, 120,000 shares April 2 30,000 shares issued for cash June 30 5% stock dividend Debit Credit Balance Debit Balance Credit 4,800,000 1,200,000 300,000 6,000,000 6,300,000 ACCOUNT Paid-In Capital in Excess of Par-Common Stockr ACCOUNT NO. Date Item January 1 Balance April 2 30,000 shares issued for cash June 30 Stock dividend Debit Credit Balance Debit Balance Credit 360,000 720,000 150,000 1,080,000 1,230,000 ACCOUNT Retained Earnings ACCOUNT NO. Date Item Debit Credit Balance Debit Balance Credit January 1 June 30 Balance 2,000,000 Stock dividend December 30 Cash dividend 450,000 315,000 1,550,000 1,235,000 December 31 Net…

Feb 25 Declared a 2.50 per share cash dividend on 20,000 shares of common stock outstanding Mar. 20 Paid the cash dividends declared on Feb. 25, Dec. 31 Closed the 72,000 credit balance in Income Summary that reflects net income to Retained Earnings (a) Prepare the journal entries for these transactions. (b) If Retained Earnings had a 155,000 credit balance on January 1, calculate its year-end balance as of December 31