2b) Showed work from part a, need part b to be anwsered. Will leave a like for correct anwser thank you.

The ledger of Concord Corporation at December 31, 2022, after the books have been closed, contains the following stockholders equity accounts Preferred Stock (11.700 shares issued) Common Stock (307,000 shares issued) Paid-in Capital in Excess of Par Value --Preferred Stock Paid in Capital in Excess of Stated Value-Common Stock Retained Earnings $1,205,100 2149.000 190.000 1.670.000 2.775,500 1 2 3. A review of the accounting records reveals this information: Preferred stock is 8%, 5103 par value, noncumulative. Since January 1, 2021, 11.700 shares have been outstandine: 23400 shares are authorized Common stock is no par with a stated value of 57 per share: 614,000 shares are authorized The January 1, 2022 balance in Retained Earnines was $2,287,000, On October 1.60.500 shares of common stock were sold for coth at $10 per share, A cash dividend of $397.500 was declared and properly allocated to preferred and common stock on November 1. No dividends were paid to preferred stockholders in 2021 Net income for the year was $886.000 On December 31, 2022. the directors authorized disclosure of a 5167000 restriction of retained earnings for plant expansion (Use Note A) 5 6 7 (a) Your answer has been saved. See score details after the due date. Reproduce the Retained Earnings account for the year. Retained Earnings Dec. 31 397.500 Jan. 1 Balance 2.287.000 Dec. 31 86000 Dec 31 Balance 2775:500 Attempts: 1 of 1 used (6) Prepare the stockholders'equity section of the balance sheet at December 31 CONCORD CORPORATION Partial Balance Sheet . $ . Save for later Attempts: 0 of 1 used Submit