Repeat Brief Exercise 2.8, except assume that rather than being a sole proprietorship or a partnership, Solway Company is organized as a corporation with capital stock of $48,000. How would the $60,000 of owners’ equity be presented in the company’s balance sheet?

Data from Brief Exercise 2.8,

Solway Company is a sole proprietorship whose owner, Joe Solway, has an equity interest of $50,000. Had Solway been a partnership rather than a sole proprietorship, and the two equal partners were Joe and his brother Tom, how would the $50,000 owners’ equity be presented in the company’s balance sheet?