Analyzing and Identifying Financial Statement Effects of Stock Transactions The stockholders' equity section of Gupta Company at December 31, 2014, follows 8% preferred stock, $.25 par value, 50,000 shares authorized; 6,800 shares issued and outstanding $170,000 Common stock, $10 par value, 200,000 shares authorized; 50,000 shares issued and outstanding Paid-in capital in excess of par value-preferred stock Paid-in capital in excess of par value-common stock Retained earnings 500,000 68,000 200,000 270,000