• 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.

Prepare the stockholders equity section of Dracos balance sheet as of December 31.

Note: Amounts to be deducted should be indicated by a minus sign.

I keep getting the cost of treasury wrong.

- 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. 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