Question: Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and
Star Corporation issued both common and preferred stock during 20X6. The stockholders' equity sections of the company's balance sheets at the end of 20X6 and 20X5 follow:
| 20X6 | 20X5 | |
| Preferred stock, $100 par value, 10% | $580,000 | $500,000 |
| Common stock, $10 par value | 2,350,000 | 1,750,000 |
| Paid-in capital in excess of par value | ||
| Preferred | 24,000 |
|
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