Question
Ayayai Corp. has issued90,000shares of $4par value common stock. It was authorized490,000shares. The paid-in capital in excess of par value on the common stock is
Ayayai Corp. has issued90,000shares of $4par value common stock. It was authorized490,000shares. The paid-in capital in excess of par value on the common stock is $257,000. The corporation has reacquired6,000shares at a cost of $45,000and is currently holding those shares. It also had accumulated other comprehensive income of $60,000.
The corporation also has1,000shares issued and outstanding of7%, $100par value preferred stock. It authorized9,000shares. The paid-in capital in excess of par value on the preferred stock is $22,000. Retained earnings is $362,000.
Prepare the stockholders' equity section of the balance sheet.
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