STOCKHOLDERS' EQUITY SECTION After closing its books on December 31, 20', Jackson Corporation's stockholders' equity accounts had the following balances:

REQUIRED
Prepare the stockholders' equity section of the balance sheet for Jackson for the year ended December 31,20--.

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Balance Additional Information Account Preferred Stock Subscriptions $ 15,000 Receivable Common Stock Subscriptions Receivable 10,000 Preferred Stock Subscribed $4 dividend, $5 par, 10,000 shares $10 par, 3,000 shares $4 dividend, $5 par, 30,000 shares $10 par, 25,000 shares 50,000 Common Stock Subscribed Preferred Stock 30,000 150,000 Common Stock Paid-In Capital in Excess of Par-Preferred Stock Paid-In Capital from Sale of Treasury Stock Common Treasury Stock Retained Earnings 250,000 10,000 1,000 10,000 75,000