The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Patel Corporation at December 31, 2012.

Instructions Prepare the stockholders’ equity section of the balance sheet at December 31, 2012.

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Common Stock ($2 stated value) Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value Common Stock Preferred Stock (8%, $100 par, noncumulative) Retained Earnings Treasury Stock-Common (12,000 shares) $1,600,000 45,000 1,050,000 600,000 1,334,000 72,000