Question: Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Seventy thousand shares of common stock are authorized, and 7,500

Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet. Seventy thousand shares of common stock are authorized, and 7,500 shares have been reacquired.

Common Stock, $75 par $4,725,000

Paid-In Capital in Excess of Par 679,000

Paid-In Capital from Sale of Treasury Stock 25,200

Retained Earnings 2,032,800

Treasury Stock 588,000

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