Question: Thompson Corporation began its business on January 1 201X It
Thompson Corporation began its business on January 1, 201X. It sold at $28 per share 6,100 shares of no-par common stock with a stated value of $20 per share. The charter of Thompson indicated 35,000 shares were authorized. Retained earnings were $64,000 on December 31. Prepare the stockholders’ equity section for Thompson on December 31, 201X.
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