Homework Answers
Correct Answer:
|
Balance sheet |
|
|
stockholder's Equity (only) |
|
|
Common stock, Par value |
$ 10,00,000 |
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Preferred Stock, Par value |
$ 10,00,000 |
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Paid-in Capital in Excess of Par |
|
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common stock |
$ 2,50,900 |
|
Preferred Stock |
$ 4,750 |
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Total contributed capital |
$ 22,55,650 |
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Retained Earnings |
$ 34,500 |
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Total contributed capital and retained Earnings |
$ 22,90,150 |
|
Comprehensive income |
$ 45,000 |
|
Less: Treasury Stock |
$ (50,000) |
|
Total stockholder's Equity |
$ 22,85,150 |
End of answer.
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Retained Earnings= 34,500
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