STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Mel

Brothers’ stockholders’ equity accounts have the following balances:

Common stock subscriptions receivable…………………$ 6,000

Common stock, $6 par, 15,000 shares…………………….90,000

Preferred stock, $10 par, 8%, 10,000 shares……………..100,000

Common stock subscribed, $6 par, 5,000 shares………….30,000

Retained earnings…………………………………………50,000

Prepare the stockholders’ equity section of the balance sheet.