Oulette Manufacturing, Co., has the following selected account balances at August 31 , 2012.

Requirement
1. Prepare the stockholders€™ equity section of the company€™s balancesheet.

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Common Stock, no par with $4 stated value, 40,000 shares authorized, issued and outstanding$ Inventory$146,000 Machinery and Equipment105,000 Preferred Stock, 10%, $25 par, $160,000 20,000 shares authorized, 8,000 shares issued and outstanding Accumulated Depreciation Machinery and Equipment. 101,000 200,000 Retained Earnings 125,000 Paid-in Capital in Excess of Stated Value Common50,000 Cost of Goods Sold.. 76,000