The Stockholders’ Equity section of the balance sheet of Lido P.O. 2,4,5,6,7 Auto Wholesale, Inc., as of January 1 is as follows:

Some of the transactions that took place during the year are:

Instructions 1. Enter in the ledger accounts the balances appearing in the Stockholders’
Equity section of the balance sheet as ofJanuary 1. In the Item column of the stock accounts, record the word Balance on the first line and the number of shares on the second line.
2. Journalize entries in general journal form to record the transactions that occurred during the year and post to the stockholders’ equity accounts.
3. Prepare the Stockholders’ Equity section of the balance sheet as of December 31.
Check Figure Total Stockholders' Equity, $1,137,700

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Paid-in Capital: Stockholders' Equity Preferred 9 Percent Stock $100 par (4,000 shares authorized, 2,250 shares issued) Premium on Preferred 9 Percent Stock Common Stock, no par, stated value $20 per share (23,000 shares authorized, 18,000 shares issued) Paid-in Capital in Excess of Stated Value Total Paid-in Capital Retained Earnings: Unappropriated Retained Earnings Appropriated for Expansion Total Retained Earnings Total Stockholders' Equity $22500000 900000 $23400000 $36000000 180 000 00 540 00000 $77400000 $19125000 4050000 23175000 1005 75000