Question: Exercise 11-14 (Algo) Preparing stockholders' equity section LO P1, C2, P3, C3 In Draco Corporation's first year of business, the following transactions affected its equity

Exercise 11-14 (Algo) Preparing stockholders' equity section LO P1, C2, P3, C3 In Draco Corporation's first year of business, the following transactions affected its equity accounts Issued 7,400 shares of $2 par value common stock for $52. It authorized 20.000 shares Issued 1,850 shares of 12%, $10 par value preferred stock for $57 It authorized 3,000 shares Reacquired 370 shares of common stock for $64 each Retained earnings is impacted by reported net income of $84.000 and cash dividends of $32,000 Prepare the stockholders' equity section of Draco's balance sheet as of December 31 (Amounts to be deducted should be indicated by a minus sign.) DRACO CORPORATION Stockholders'Equity Section of the Balance Sheet December 31

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