In Draco Corporation's first year of business, the following transactions affected its equity accounts.

• Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares.
• Issued 1,800 shares of 12%, $10 par value preferred stock for $55. It authorized 3,000 shares.
• Reacquired 360 shares of common stock for $62 each.
• Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000.

Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.)

Logout Successful X Question 9 - Ch 11: Exercises 20 pts X X F -CA https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%2521 ( 80% . .. V Ch 11: Exercises 20 pts i Saved Help Save & Exit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to c 9 In Draco Corporation's first year of business, the following transactions affected its equity accounts. . Issued 7,200 shares of $2 par value common stock for $50. It authorized 20,000 shares. 1.33 Issued 1,800 shares of 12%, $10 par value preferred stock for $55. It authorized 3,000 shares. points Reacquired 360 shares of common stock for $62 each. Retained earnings is impacted by reported net income of $82,000 and cash dividends of $31,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.) x Answer is not complete. DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Preferred stock-$10 par value 18,000 Paid-in capital in excess of par value, common stock O Common stock-$2 par value 3,600 x Paid-in capital, treasury stock X Retained eamings 51,000 Less: Cost of treasury stock Total stockholders' equity $ 72,600 Type here to search O 11:43 PM 4/29/2021