Exercise 15-17 Martinez Corporation's post-closing trial balance at December 31, 2017, is shown as follows. MARTINEZ CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr. Cr. $ 345,900 $ 488,000 183,000 Accounts payable Accounts receivable Accumulated depreciation-buildings Additional paid-in capital in excess of par-common From treasury stock Allowance for doubtful accounts Bonds payable Buildings 1,380,000 169,000 33,000 273,000 1,530,000 172,000 Cash Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory 180,000 4,100 578,000 417,000 Land Preferred stock ($50 par) 550,000 42,000 Prepaid expenses Retained earnings 282,000 Treasury stock (common at cost) 173,000 $3,400,000 Totals $3,400,000 At December 31, 2017, Martinez had the following number of common and preferred shares. Common Preferred Authorized Issued 540,000 180,000 176,000 66,000 11,000 11,000 Outstanding 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 Martinez's balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.) MARTINEZ CORPORATION Stockholders' Equity December 31, 2017 Capital Stock Preferred Stock Commo Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par Common Stock Treasury Stock Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings v Less Treasury Stock Total Stockholders' Equity