PREPARE THE STOCKHOLDERS’ EQUITY SECTION Renee Corporation has the following stockholders’ equity information:

$10 Par Common $50 Par Preferred Paid-in capital in excess of par $ 750,000 $ 30,000 Shares:

Authorized 1,000,000 100,000 Issued 250,000 15,000 Outstanding 246,500 15,000 Retained earnings is $109,400, and the cost of treasury shares is $42,000.

Required:

Prepare the stockholders’ equity portion of Renee’s balance sheet.

Exercise