El 2-20 The following accounts appear in the ledger ofTiger Inc. after the books are closed at section. December 31.

(SO 7)

Common Stock, no par, $1 stated value, 400,000 shares authorized;

300,000 shares issued $ 300,000 Common Stock Dividends Distributable 60,000 Paid-in Capital in Excess of Stated Value—Common Stock 1,200,000 Preferred Stock, $5 par value, 8%, 40,000 shares authorized;

30,000 shares issued 150,000 Retained Earnings 700,000 Treasury Stock (10,000 common shares) 74,000 Paid-in Capital in Excess of Par Value—Preferred Stock 344,000 Instructions Prepare the stockholders’ equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $100,000.