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In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 5,400 shares of $2 par value common stock for

image text in transcribed In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 5,400 shares of $2 par value common stock for $32 It authorized 20,000 shares. - Issued 1,350 shares of 12%,$10 par value preferred stock for $37. It authorized 3,000 shares. - Reacquired 270 shares of common stock for $44 each. - Retalned earnings is Impacted by reported net Income of $64,000 and cash dividends of $22,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31 . Note: Amounts to be deducted should be Indlcated by a minus sign

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