Equity presentation -> 1 -> Balance of accounts at the beginning of the year for Narjes-Co is as follows: 1 Common Stock (1 million shares issued at $10 par):... $ 10,000,000 Paid in Capital in Excess of par-Common Stock - 15,000,0001 Preferred Stock (20,000 shares issued at $100 par):)... - 2,000,0001 Paid in Capital in Excess of par---Preferred:-> ...500,000 Treasury Stock (15,000 shares @10) ...150,0001 ***** -> During the year the following transactions took place: 1. Reacquired and retired 25,000 common shares for $600,000 cash-1 2. Reissued 10,000 retired shares for $ 26 per share. I Additional information: Preferred shares authorized 100,000 shares 1 Authorized 5,000,000 common shares. 1 .- Retained-Earnings at the beginning of the year was $2,550,000.-1 Net income for the year was $430,000 of which 60% was paid in dividends. 9 Required: 11 Use all the information given above to prepare the Equity section of Balance Sheet at the end of the year. 1 Equity presentation -> 1 -> Balance of accounts at the beginning of the year for Narjes-Co is as follows: 1 Common Stock (1 million shares issued at $10 par):... $ 10,000,000 Paid in Capital in Excess of par-Common Stock - 15,000,0001 Preferred Stock (20,000 shares issued at $100 par):)... - 2,000,0001 Paid in Capital in Excess of par---Preferred:-> ...500,000 Treasury Stock (15,000 shares @10) ...150,0001 ***** -> During the year the following transactions took place: 1. Reacquired and retired 25,000 common shares for $600,000 cash-1 2. Reissued 10,000 retired shares for $ 26 per share. I Additional information: Preferred shares authorized 100,000 shares 1 Authorized 5,000,000 common shares. 1 .- Retained-Earnings at the beginning of the year was $2,550,000.-1 Net income for the year was $430,000 of which 60% was paid in dividends. 9 Required: 11 Use all the information given above to prepare the Equity section of Balance Sheet at the end of the year. 1