Changes in Shareholders’ Equity’ The shareholders’ equity' section of Flores Design Company's December 31, 2015, balance sheet appeared as follows’:
Contributed Capital:
Preferred stock, $100 par (10,000 shares authorized, 1,250 shares issued) ...$125,000
Additional paid-in capital on preferred stock .............. 55, 000
Common stock, $ 10 par (60,000 shares authorized, 15,000 shares issued) . 150,000
Additional paid-in capital on common stock ............. 105,000
Total contributed capital ......................$435,000
Retained earnings ........................ 78, 000
Contributed capital and retained earnings ...............$513,000
Less: Treasury stock (300 shares of common at $ 14 per share) ....... (4,200)
Total Shareholders' Equity ......................$508,800