E14-11B

The following accounts appear in the ledger of Ramirez Inc. after the books are closed at December 31.

Common Stock, no par, $1 stated value, 400,000 shares authorized; 300,000 shares issued $ 300,000 Common Stock Dividends Distributable 50,000 Paid-in Capital in Excess of Stated ValueCommon Stock 1,200,000 Preferred Stock, $5 par value, 8%, 40,000 shares authorized; 30,000 shares issued 150,000 Retained Earnings 850,000 Treasury Stock (10,000 common shares) 74,000 Paid-in Capital in Excess of ParPreferred Stock 344,000 Instructions Prepare the stockholders equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $100,000.