Hudson Corporation was organized on January 1 2010. Information related to the corporations equity section is listed below:

Using this information prepare the stockholders equity section for the balance sheet of Hudson Corporation on December 31 2010.

  

Retained earnings as of December 31, 2010: $47,000.

Authorized stock: 90,000 shares of $10 par value common stock 50,000 shares of 5%, $50 par value, noncumulative preferred stock Issued stock: 50,000 shares of common stock at an average issue price of $15 12,000 shares of preferred stock at an average issue price of $68