Exercise 11-21 Your answer is partially correct. Try again. Pina Colada Corp. reported the following balances at December 31, 2018: common stock $405,000, paid-in capital in excess of par value-common stock $107,000, and retained earnings $256,000. During 2019, the following transactions affected stockholders' equity. 1. 2. Issued preferred stock with a par value of $125,000 for $190,000. Purchased treasury stock (common) for $38,000. Earned net income of $137,000. Declared and paid cash dividends of $55,000. 4. Prepare the stockholders' equity section of Pina Colada Corp.'s December 31, 2019, balance sheet. Pina Colada Corp. Balance Sheet (Partial) December 31, 2019 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock 125000 Common Stock 405000 T Total Capital Stock 530000 Paid-in Capital Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings ! Less 1. Treasury Stock Total Stockholders' Equity