Question

Paid In Capital, Excess of Par Common Stock Short term Investments	$ 117,000 50,000
Preferred stock, 12%, $100 par value    Common Stock, $5 par value       Retained earnings, 1/1/18	400,000 1,650,000 125,000
Organizational expense       Treasury Stock-common(2,000 shares)     Merchandise Inventory	1,500 37,000 105,000
Purchases     Gain on sale of investment      Dividend Revenue	650,000 4,800 11,000
Accounts Payable     Notes Payable   Estimated income taxes payable	400,000 80,000 115,000
Paid-in-capital- Excess of Par, Preferred Stock       Mortgage Payable      Interest Expense	200,000 105,000 7,500
Interest Payable    Dividends Payable       Dividends     Cash	3,000 15,000 75,000 146,000

Stock holders Equity?

Retained Earnings?

Answer 1

Preferred Stock, 12%, $100 par value	$400,000
Common Stock, $5 Par value	$1,650,000
Paid in capital, excess of Par, Preferred Stock	$200,000
Paid in capital, excess of Par, Common Stock	$117,000
Less: Treasury Stock-Common	($37,000)
Ending Retained Earnings (see below)	$58,300
Stockholders' Equity	$2,388,300
Retained Earnings, 1/1/18	$125,000
Add: Net Income ($4,800 + $11,000 - $7,500)	$8,300
Less: Dividends	($75,000)
Ending Retained Earnings	$58,300