P12-6B The post-closing trial balance of Chen Corporation at December 31, 2008, contains the following stockholders’ equity accounts.

Preferred Stock (15,000 shares issued) $ 750,000 Common Stock (250,000 shares issued) 2,500,000 Paid-in Capital in Excess of Par Value—Preferred 250,000 Paid-in Capital in Excess of Par Value—Common 400,000 Common Stock Dividends Distributable 250,000 Retained Earnings