1. develop the stockholders equity category of pellets balance sheet as of december 31,2017. for those boxes in which you must enter subtracted or negative use a minus sign

Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 11,000 shares of $5 par common stock. On January 10, Peeler issued for cash 510 shares of preferred stock at $129 per share and 3,500 shares of common stock at $80 per share. On January 20, it issued 1,000 shares of common stock to acquire a building site at a time when the stock was selling for $68 per share. During 2017, Peeler established an employee benefit plan and acquired 550 shares of common stock at $59 per share as treasury stock for that purpose. Later in 2017, resold 140 shares of the stock at 867 per share. On December 31, 2017, Petter determined its net income for the year to be 543,000. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of 4 per share to the common stockholders. The dividends will be paid in 2018 Required: 1. Develop the stockholders' Equity Category of Peeler's balance sheet as of December 31, 2017. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Peeler Company Partial Balance Sheet December 31, 2017 Stockholders' equity Preferred stock 31,000 55,00 X Common stock Additional pald-in capital preferred stock Additional paid-in capital-common stock Additional pald-in capital treasury stock $ Total contributed capital Retained earnings Treasury stock 2. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock. Preferred Stock Common Stock Number of shares authorized Number of shares issued Number of shares outstanding Feedback