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Can someone show me how this should be prepared please!??? When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of
Can someone show me how this should be prepared please!???
When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock. Half of the preferred stock was issued at a price of $103 per share, and 70,000 shares of the uc common stock were sold for $13 per share. At the end of the current year, Resisto has retained earnings of $475,000. a. Prepare the stockholders' equity section of the company's balance sheet at the end of the cur- rent year. b. Assume Resisto Systems's common stock is trading at $24 per share and its preferred stock is trading at $107 per share at the end of the current year. Would the stockholders' equity section prepared in part a be affected by this additional information? A portion of the stockholders' equity section from the balance sheet of Walland Corporation appears as followsStep by Step Solution
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