Question: Bruno Corporations post-closing trial balance at December 31, 2014, is shown below. At December 31, 2014, Bruno had the following number of common and preferred

Bruno Corporation’s post-closing trial balance at December 31, 2014, is shown below.

                               Bruno Corporation’s post-closing trial balance at December 31, 2014, is shown below. 

At December 31, 2014, Bruno had the following number of common and preferred shares.

                                                                       

The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share.

Instructions
Prepare the stockholders’ equity section of Bruno’s balance sheet at December 31, 2014.

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