Exercise 175

Echota Corporation has the following capital stock outstanding at December 31, 2020:

7% Preferred stock, $100 par value, cumulative

$1,500,000

15,000 shares issued and outstanding

Common stock, no par, $10 stated value, 500,000 shares authorized,3,500,000 350,000 shares issued and outstanding

The preferred stock was issued at $120 per share. The common stock was issued at an average per share price of $14.

Prepare the paid-in capital section of the balance sheet at December 31, 2020.

ECHOTA CORPORATION Partial Balance Sheet December 31, 2020 Additional Paid-in Capital Capital Stock Current Assets Current Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Additional Paid-in Capital Total Assets Total Capital Stock Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Intangible Assets Long-term Investments Long-term Liabilities Paid-in Capital Property, Plant and Equipment Stockholders' Equity Total Additional Paid-in Capital Total Assets Total Capital Stock Total Current Assets Total Current Liabilities Total Intangible Assets Total Liabilities Total Liabilities and Stockholders' Equity Total Long-term Investments Total Long-term Liabilities Total Paid-in Capital Total Paid-in Capital and Retained Earnings Total Property, plant and Equipment Total Stockholders' Equity ECHOTA CORPORATION Partial Balance Sheet December 31, 2020