Exercise 8-5 Recording and reporting common and preferred stock transactions LO 8-4

Goldman Inc. was organized on June 1, 2014. It was authorized to issue 500,000 shares of $10 par common stock and 100,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share. The following stock transactions pertain to Goldman Inc.:

1.	Issued 40,000 shares of common stock for $16 per share.
2.	Issued 20,000 shares of the class A preferred stock for $52 per share.
3.	Issued 60,000 shares of common stock for $20 per share.
Required
Prepare the stockholders equity section of the balance sheet immediately after these transactions have been recognized. stockholders equity? paid in capital in excess of stated value preferred stock? common stock? Preferred stock? paid in capital in excess of part, in common stock retained earnings? total stockholders equity?