Stockholders' Equity Section of Balance Sheet The following Stockholders' Equity section of the balance sheet prepared...

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Stockholders Equity Section of Balance Sheet The following Stockholders Equity section of the balance sheet prepared as of

Stockholders Equity Pald-In Capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued) x 16,500,000 X Exces

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Answer 1

Answer #1

Stockholders' equity
Paid-in capital:
Preferred stock	$10,000,000
Excess of issue price over par	$500,000
Paid-in capital, Preferred stock		$10,500,000
Common stock	$16,500,000
Excess of issue price over par	$1,155,000
Paid-in capital, Common stock		$17,655,000
Total paid-in Capital		$28,155,000
Retained earnings [$96,700,000-$430,000 dividends - $300,000 Org. Costs]		$95,970,000
Total		$124,125,000
Treasury stock (75,000 shares at cost)		($1,755,000)
Total stockholders' equity		$122,370,000

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Answer 2

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