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Financial Statements The stockholders equity accounts of Windham Corporation at December 31. 20X1 (except al January 1, 20%1 for Retained Earnings) appear below: 51 16,000 Paid-in Capital in Excess of Par Value - Preferred Stock.. 13,000 Paid-in Capital from Sale of Treasury Stock .. .bumpednet Common Stock. $10 Par Value, 200,000 shares authorized; 78,000 shares issued and 75,000 shares outstanding . .ism 780.000 Common Stock Distributable .ated 37 500 Treadatry Stock (3,000 shares).... $7.000 Denied Capital Mapping, populatemeaningful 120,000 Paid-in Capital in Excess of Par Value - Common Stock. pass 448 500 Hi Preferred Stock, 525 Par Value, 50,000 shares authorized; 10,000 shares Issued and outstanding .. 150,000 Retained Earnings on January 1, 20XI hadnineminutes 295,090 Additional Information: Net Income was $59,000 for this year. There was in error which resulted in an overstatement of prior year Net Income by $25,000 after tax Stock Dividends were $90,000 Cash Dividends were $20,000 There were 75,000 shares of Common Stock outstanding during the entire year. The preferred mock as a liquidation value of $26 50 per share. Instructions: Prepare the December 31. 20X1 Retained Earnings Statement. 2. Prepare the December 31. 20X1, stockholders' equity section of the balance sheet. 1. Retained Earnings Statement