5.
Houston Corporation reported its stockholders' equity information for the year 2018 as
fol...
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5.
Houston Corporation reported its stockholders' equity information for the year 2018 as
follows:
Common stock of $5 par value, 100,000 shares authorized,
50.000 shares issued and outstanding
$250,000
Additional paid-in capital
125,000
Retained earnings
400,000
Treasury stock 2,500 shares at cost $7
Net income for the year
80,000
Prepare the stockholders' equity section of the balance sheet as it should appear on
December 31, 2018.
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