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Donnie Hilfiger has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $275,000; Common Stock, $250,000; Preferred Stock, $1, 400,000;
Donnie Hilfiger has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $275,000; Common Stock, $250,000; Preferred Stock, $1, 400,000; Retained Earnings, $1, 700,000; and Additional Paid-in Capital, $3, 200,000. Prepare the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015. (Amounts to be deducted should be indicated with a minus sign.)
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