Preparing the Stockholders' Equity Section Prepare the stockholders' equity section of a classified balance sheet given the following account balances on December 31, 2020. Preferred stock, par $10, authorized 150,000 shares $892,500 Cash received above par of preferred stock 87,500 Common stock, no par, 210,000 shares issued (350,000 shares authorized) 700,000 Retained earnings 525,000 Stockholders' Equity Section As of December 31, 2020 Preferred stock, $10 par, 150,000 authorized shares, 5 829,500 X 210,000 x Issued shares Common stock, no-par, 350,000 authorized shares, 700,000 issued shares Pald-in capital in excess of par 87,500 Retained earnings 525,000 Total stockholders' equity $ 2,142,000 x