Bonner Corp. has the following stockholders' equity information: (Click the icon to view the stockholders' equity information.) Requirement 1. Prepare the stockholders' equity section of Bonner Corp.'s balance sheet at December 31,2021 . Show the computation of all amounts. Journal entries are not required. Begin by identifying the formula needed and then entering the amounts to calculate the preferred stock balance. =Preferredstock= Next, show the computation of the retained earnings balance. Select the formula labels needed and then enter the amounts to calculate ending Retained Earnings. Now, prepare the stockholders' equity section of the balance sheet. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) More info Bonner's charter authorizes the company to issue 11,000 shares of 7% preferred stock with par value of $70 and 850,000 shares of no-par common stock. The company issued 1,100 shares of the preferred stock at $70 per share. It issued 170,000 shares of the common stock for a total of $511,000. The company's retained earnings balance at the beginning of 2021 was $77,000, and net income for the year was $94,000. During 2021 , Bonner declared the specified dividend on preferred and a $0.40 per-share dividend on common. Preferred dividends for 2020 were in arrears. Bonner Corp. has the following stockholders' equity information: (Click the icon to view the stockholders' equity information.) Requirement 1. Prepare the stockholders' equity section of Bonner Corp.'s balance sheet at December 31,2021 . Show the computation of all amounts. Journal entries are not required. Begin by identifying the formula needed and then entering the amounts to calculate the preferred stock balance. =Preferredstock= Next, show the computation of the retained earnings balance. Select the formula labels needed and then enter the amounts to calculate ending Retained Earnings. Now, prepare the stockholders' equity section of the balance sheet. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) More info Bonner's charter authorizes the company to issue 11,000 shares of 7% preferred stock with par value of $70 and 850,000 shares of no-par common stock. The company issued 1,100 shares of the preferred stock at $70 per share. It issued 170,000 shares of the common stock for a total of $511,000. The company's retained earnings balance at the beginning of 2021 was $77,000, and net income for the year was $94,000. During 2021 , Bonner declared the specified dividend on preferred and a $0.40 per-share dividend on common. Preferred dividends for 2020 were in arrears
