Exercise 15-17 Headland Corporations post-closing trial balance at December 31, 2017, is shown as follows. HEADLAND CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. Accounts payable $ 405,100 Accounts receivable $ 513,000 Accumulated depreciationbuildings 195,000 Additional paid-in capital in excess of parcommon 1,310,000 From treasury stock 150,000 Allowance for doubtful accounts 27,000 Bonds payable 292,000 Buildings 1,489,000 Cash 203,000 Common stock ($1 par) 195,000 Dividends payable (preferred stockcash) 3,900 Inventory 579,000 Land 392,000 Preferred stock ($50 par) 550,000 Prepaid expenses 42,000 Retained earnings 271,000 Treasury stock (common at cost) 181,000 Totals $3,399,000 $3,399,000 At December 31, 2017, Headland had the following number of common and preferred shares. Common Preferred Authorized 585,000 66,000 Issued 195,000 11,000 Outstanding 164,000 11,000 The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. Prepare the stockholders equity section of Headlands balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.) HEADLAND CORPORATION Stockholders Equity $ : $