Question

The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Patel Corporation at December 31, 2012.
Common Stock ($2 stated value) ..................$1,600,000
Paid-in Capital in Excess of Par Value—Preferred Stock ...........45,000
Paid-in Capital in Excess of Stated Value—Common Stock ..........1,050,000
Preferred Stock (8%, $100 par, noncumulative) ..............600,000
Retained Earnings .........................1,334,000
Treasury Stock—Common (12,000 shares) .................72,000
Instructions
Prepare the stockholders’ equity section of the balance sheet at December 31, 2012.



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  • CreatedSeptember 21, 2011
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