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Business, 06.05.2020 18:00 chaseashley24

Using the following accounts and balances, prepare the Stockholders’ Equity section of the balance sheet.

Five-hundred thousand shares of common stock are authorized, and 40,000 shares have been reacquired.

Common Stock, $120 par $48,000,000

Paid-In Capital from Sale of Treasury Stock 4,500,000

Paid-In Capital in Excess of Par—Common Stock 6,400,000

Retained Earnings 63,680,000

Treasury Stock 5,200,000

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