Using the following accounts and balances prepare the Stockholders Equity
Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Two hundred fifty thousand shares of common stock are authorized, and 17,500 shares have been reacquired.
Common Stock, $60 par............ $12,000,000
Paid-In Capital from Sale of Treasury Stock..... 320,000
Paid-In Capital in Excess of Par—Common Stock.... 3,200,000
Retained Earnings.............. 18,500,000
Treasury Stock................ 1,137,500

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