Question
Culver Corporation has issued 90,000 shares of $5 par value common stock. It was authorized 492,000 shares. The paid-in capital in excess of par value
Culver Corporation has issued 90,000 shares of $5 par value common stock. It was authorized 492,000 shares. The paid-in capital in excess of par value on the common stock is $261,000. The corporation has reacquired 7,400 shares at a cost of $49,500 and is currently holding those shares. It also had accumulated other comprehensive income of $68,500. The corporation also has 1,800 shares issued and outstanding of 9%, $100 par value preferred stock. It was authorized 9,100 shares. The paid-in capital in excess of par value on the preferred stock is $20,700. Retained earnings is $375,000. Prepare the stockholders equity section of the balance sheet
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