(L.OBJ. 3) Stockholders equity section of the balance sheet [10-15 min] The charter of...

(L.OBJ. 3) Stockholders equity section of the balance sheet [10-15 min]

The charter of Cherry Blossom Capital Corporation authorizes the issuance of 1,000 shares of preferred stock and 1,000 shares of corn non stock. During a two- month period, Cherry Blossom completed these stock-issuance transactions:

Requirement

1. Prepare the stockholders' equity section of the Cherry Blossom balance sheet for the transactions given in this exercise. Retained Earnings has a balance of $72,000.