United Apparel has the following balances in its stockholders' equity accounts on December 31, 2012: Treasury Stock,

Question:

United Apparel has the following balances in its stockholders' equity accounts on December 31, 2012: Treasury Stock, $750,000; Common Stock, $500,000; Preferred Stock, $2,600,000; Retained Earnings, $1,700,000; and Additional Paid-in Capital, $7,800,000.

Required:

Prepare the stockholders' equity section of the balance sheet for United Apparel as of December 31, 2012

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...