Bretton Manufacturing, Co., has the following selected account balances at April 30, 2010.

Requirement 1. Prepare the stockholders’ equity section of the company’s balance sheet.

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Common Stock, no par with $4 stated value, 140,000 shares authorized, issued, and outstanding..... $560,000 Inventory.. Machinery and Equipment Preferred Stock, 5%, $17 par, 20,000 shares authorized, $ 55,000 77,000 Accumulated Depreciation, 6,000 shares issued and Machinery and Equipment... Retained Earnings... 14,000 outstanding. 102,000 150,000 Paid-in Capital in Excess of Stated Value.. 50,000 Cost of Goods Sold............. 76,000