Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet. There are 20,000 shares of common stock authorized, and 2,000 shares have been reacquired. Common Stock, $40 par $560,000
Paid-In Capital from Sale of Treasury Stock 17,000
Paid-In Capital in Excess of Par—Common Stock 126,000
Retained Earnings 286,000
Treasury Stock 11,000
Additional Info Provided:
Accounts and Amount Descriptions
Common stock, $60 par (250,000 shares authorized,
182,500 shares issued)
Common stock, $60 par (250,000 shares authorized,
200,000 shares issued)
Dividends on common stock
Excess of issue price over par
From sale of treasury stock
Issuance of additional common stock
Net income
Purchase of treasury stock
Retained earnings
Total
Total paid-in capital
Total stockholders’ equity
Treasury stock (17,500 shares at cost)