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In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 7,600 shares of $2 par value common stock for
In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 7,600 shares of $2 par value common stock for $54. It authorized 20,000 shares. - Issued 1,900 shares of 12%, \$10 par value preferred stock for $59. It authorized 3,000 shares. - Reacquired 380 shares of common stock for $66 each. - Retained earnings is impacted by reported net income of $86,000 and cash dividends of $33,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31 . Note: Amounts to be deducted should be indicated by a minus sign
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