Question Content Area

Prepare the Stockholders' Equity Section

Wildcat Drilling has the following accounts on its trial balance.

		Debit		Credit
Retained earnings				1,500,000
Cash		125,000
Additional paid-in capitalcommon				10,000,000
Additional paid-in capitalpreferred				2,000,000
Accounts payable				75,000
Accounts receivable		150,000
Common stock, $2 par				800,000
Preferred stock, $10 par				600,000
Inventory		500,000
Treasury stockcommon (40,000 shares)		250,000
Accumulated other comprehensive income				49,700

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below.