Tsongas Manufacturing Co. has the following selected account balances at July 31, 2016.

Requirements
Prepare the stockholders' equity section of the company's balance sheet?

Transcribed Image Text:

Common Stock, no par with $6 stated value, 75,000 shares authorized, issued, and outstanding. Accumulated Depreciation, Machinery and Equipment. Retained Earnings. $13,000 113,000 Inventory.. Machinery and Equipment. Preferred Stock, 8%, $10 par, 20,000 shares authorized, 6,000 shares issued and outstanding . Paid-in Capital in Excess of Stated Value-Common.. Cost of Goods Sold. $450,000 27,000 135,000 60,000 180,000 78,000