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Exercise 11-21 Monty Corp. reported the following balances at December 31, 2018: common stock $404,000, paid-in capital in excess of par value-common stock $101,000, and
Exercise 11-21 Monty Corp. reported the following balances at December 31, 2018: common stock $404,000, paid-in capital in excess of par value-common stock $101,000, and retained earnings $246,000 During 2019, the following transactions affected stockholders' equity 1 Issued preferred stock with a par value of $126,000 for $192,000 2. Purchased treasury stock (common) for $43,500 3. Earned net income of $135,500 4. Declared and paid cash dividends of $59,000 Prepare the stockholders' equity section of Monty Corp.'s December 31, 2019, balance sheet. Monty Corp Balance Sheet (Partial)
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