Chapter 12 Corporations: Organization, Stock Transactions, and Dividends 595 EX 12-21 Stockholders' Equity section of balance sheet Obj. 6 ed total List the errors in the following Stockholders' Equity section of the balance sheet prepared as s'equity of the end of the current year: Stockholders' Equity Paid-in capital: Preferred 2% stock, $80 par (125,000 shares authorized and issued). . .. Excess of issue price over par 10,000,000 500,000 . . . . . . . . . . .. . $ 10,500,000 96,700,000 1,755,000 430,000 109,385,000 Retained earnings.... Common stock, $20 par (1,000,000 shares authorized, 825,000 shares issued) Organizing costs 17,655,000 300,000 $127,340,000