Problem 15-3 Your answer is partially correct. Try again Metlock Company has two classes of capital stock outstanding: 790 $20 par preferred and $5 par common. At December 31, 2017, the following accounts were included in stockholders' equity. Preferred Stock, 146,600 shares Common Stock, 1,998,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $2,932,000 9,990,000 201,000 26,651,000 4,581,000 The following transactions affected stockholders' equity during 2018. 1an.28,000 shares of preferred stock issued at $23 per share. une 2-for-1 stock split (par value reduced to $2.50). Feb. 49,000 shares of common stock issued at $20 per share. 32,700 shares of common treasury stock purchased at $10 per share. Metlock uses the cost method. uly 1 t. 10,700 shares of treasury stock reissued at $11 per share. Dec. The preferred dividend is declared, and a common dividend of 48 per 3 share is declared. Net income is $2,099,000. 31 Prepare the stockholders' equity section for Metlock Company at December 31, 2018. (Enter account name only and do not provide descriptive information.) Prepare the stockholders' equity section for Metlock Company December 31, 2018. (Enter account name only and do not descriptive information.) METLOCK COMPANY Stockholders' Equity Capital Stock Preferred Stock 3492000 Common Stock 10235000 Total Capital Stock 13727000 Additional Paid-in Capital Paid-in Capital in Excess of Par Preferred Stock 285000 Paid-in Capital in Excess of Par Common Stock 27386000 Paid-in Capital from Treasury Stock 10700 27681700 Total Paid-in Capital 41408700 Retained Earnings 6278504 Total Paid-in Capital and Retained Earnings 47687204 Less 220000 Treasury Stock 47467204 Total Stockholders Equity