Check my In Draco Corporation's first year of business, the following transactions affected its equity accounts. Issued 4,000 shares of $2 par value common stock for $18. It authorized 20,000 shares Issued 1,000 shares of 12%, $10 par value preferred stock for $23. It authorized 3,000 shares. Reacquired 200 shares of common stock for $30 each. Retained earnings is impacted by reported net income of $50,000 and cash dividends of $15,000 Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.) DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common stock-$2 par value Paid-in capital in excess of par value, preferred stock Preferred stock-$10 par value Paid.in capital in excess of par value, preferred stock Retained earrings Less: Cost of treasury stock Total stockholders equity $ Prev 13 of 17! Next >