Exercise 10-14 Prepare the stockholders' equity section (LO10-7)

United Apparel has the following balances in its stockholders equity accounts on December 31, 2018: Treasury Stock, $770,000; Common Stock, $520,000; Preferred Stock, $2,800,000; Retained Earnings, $1,800,000; and Additional Paid-in Capital, $8,000,000.

Required:

Prepare the stockholders equity section of the balance sheet for United Apparel as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)

UNITED APPAREL Balance Sheet (Stockholders' Equity Section) December 31, 2018 Stockholders' equity: Total paid-in capital Total stockholders' equity