December The post-closing trial 31, 2017. ders' tains the following balance of Sto Corporation at December 31, 2017, pute stockholders' equity accounts. and Preferred Stock (15,000 Common Stock (250,000 shares issue shares issued) Paid-in in Excess of Par-Preferred stock Capital in of Common Stock Dividends Distributable Stock Retained Earnings 750,000 2,500,000 250,000 A review 400,000 1. No of the accounting 250,000 errors records reveals the 1,042,000 entry for have been made in following. 2. net income. transactions or in preparing the closing 3. Preferred stock is $50 par, 6%, and cumulative 15,000 shares h been outstanding since January 1, 2016. Authorized stock is 20,000 shares of preferred, 500 shares of common with a $10 par value