Big Boy Toys Inc. retails racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Big Boy Toys Inc. on October 31, the end of the current year:
Common Stock, $4 par ...............$ 600,000
Paid-In Capital in Excess of Par—Common Stock .....210,000
Paid-In Capital in Excess of Par—Preferred Stock .......78,000
Paid-In Capital from Sale of Treasury Stock—Common ....42,000
Preferred 2% Stock, $100 par ..............480,000
Retained Earnings .................3,903,000
Treasury Stock—Common ................120,000
Ten thousand shares of preferred and 250,000 shares of common stock are authorized. There are
12,000 shares of common stock held as treasury stock.
Prepare the Stockholders’ Equity section of the balance sheet as of October 31, the end of the current year.