Question
Grouper Corp. has been authorized to issue 19,600 shares of $100 par value, 6%, noncumulative preferred stock and 1,060,000 shares of no-par common stock. The
Grouper Corp. has been authorized to issue 19,600 shares of $100 par value, 6%, noncumulative preferred stock and 1,060,000 shares of no-par common stock. The corporation assigned a $4 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders equity. Preferred Stock $146,000 Paid-in Capital in Excess of Par ValuePreferred Stock 20,600 Common Stock 1,940,000 Paid-in Capital in Excess of Stated ValueCommon Stock 1,470,000 Treasury Stock (3,600 common shares) 36,000 Retained Earnings 83,000 Accumulated Other Comprehensive Income 48,600 The preferred stock was issued for $166,600 cash. All common stock issued was for cash. In November 3,600 shares of common stock were purchased for the treasury at a per share cost of $10. No dividends were declared in 2017. Prepare the stockholders equity section of the balance sheet at December 31, 2017. GROUPER CORP. Partial Balance Sheet choose the accounting period select an opening section name select an opening subsection name select a name of the subordinate part one of this subsection enter a balance sheet item $ enter a dollar amount enter a balance sheet item enter a dollar amount select a summarizing line for the subordinate part one of this subsection $ enter a subtotal of the two previous amounts select a name of the subordinate part two of this subsection enter a balance sheet item enter a dollar amount enter a balance sheet item enter a dollar amount select a summarizing line for the subordinate part two of this subsection enter a subtotal of the two previous amounts select a closing subsection name enter a total amount for this subsection enter a balance sheet item enter a dollar amount select a summarizing line for this part of the statement enter a subtotal amount for this part of the statement enter a balance sheet item enter a dollar amount select between addition and deduction : enter a balance sheet item enter a dollar amount select a closing section name $ enter a total amount for this section
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