Partially correct answer. Your answer is partially correct. Try again. Metlock, Inc. reported the following balances at December 31, 2018: common stock $407,000, paid-in capital in excess of par valuecommon stock $108,000, and retained earnings $242,000. During 2019, the following transactions affected stockholders' equity.

1. Issued preferred stock with a par value of $128,000 for $208,000. 2. Purchased treasury stock (common) for $39,500. 3. Earned net income of $136,500. 4. Declared and paid cash dividends of $50,000.

Prepare the stockholders equity section of Metlock, Inc.s December 31, 2019, balance sheet.

CALC Paid-in Capital Capital Stock Additional Paid-in Capital 407000 Common Stock Preferred Stoc 128000 525000 Total Capital Stock Additional Paid-in Capital 80,000 Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock 108000 188000 Total Additional Paid-in Capital Total Additional Paid-in Capital Retained Earnings 328500 Property, Plant and Equipment 188000 & Sonc