Exercise 15-17 Sage Corporation's post-closing trial balance at December 31, 2017, is shown as follows. SAGE CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2017 Dr Accounts payable Accounts receivable Accumulated depreciation-buildings Additional paid-in capital in excess 405,100 513,000 195,000 1,310,000 150,000 27,000 292,000 of par-common From treasury stock Allowance for doubtful accounts Bonds payable Buildings Cash Common stock ($1 par) Dividends payable (preferred stock-cash) Inventory Land Preferred stock ($50 par) Prepaid expenses Retained earnings Treasury stock (common at cost) 1,489,000 203,000 195,000 3,900 579,000 392,000 550,000 42,000 271,000 181,000 $3,399,000 $3,399,000 Totals At December 31, 2017, Sage had the following number of common and preferred shares. Common Preferred Authorized Issued Outstanding 585,000 195,000 164,000 66,000 11,000 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 Sage's balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.) 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 Sage's balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information. SAGE CORPORATION Stockholders' Equity December 31, 2017 Click if you would like to Show Work for this question: Open Show Work