In Draco Corporation's first year of business, the following transactions affected its equity accou Issued 4,800 shares of $2 par value common stock for $26. It authorized 20,000 shares. Issued 1,200 shares of 12%, $10 par value preferred stock for $31. It authorized 3,000 shares. Reacquired 240 shares of common stock for $38 each. Retained earnings is impacted by reported net income of $58,000 and cash dividends of $19,000. . S 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. DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equity

In Draco Corporation's first year of business. the following transactions affected its equity accounts - Issued 4,800 shares of $2 par value common stock for $26. It authorized 20000 shares. - Issued 1,200 shares of 12%,$10 par value preferred stock for $31. It authorized 3,000 shares. - Reacquired 240 shares of common stock for $38 each. - Retained earnings is impacted by reported net income of $58,000 and cash dividends of $19,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31 Note: Amounts to be deducted should be indicoted by a minus sign. Exercise 11-14 (Algo) Preparing stockholders' equity section LO P1, C2, P3, C3 In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 4,800 shates of $2 par value common stock for $26. It authorized 20,000 shares. - Issued 1,200 shares of 12\%, $10 par value preferred stock for $31. It authorized 3.000 shares. - Reacquired 240 shares of common stock for $38 each. - Retained earnings is impacted by reported net income of $58,000 and cash dividends of $19,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. Note: Amounts to be deducted should be indicated by o minus sign