Item 2: The December 31, 2024 balance sheet of Entity M showed the following: Treasury stock (4,000 shares common).................................................$ 43,000 Paid-in capital in excess of stated value common stock ..................... 1,700,000 9% preferred stock, $100 par value, cumulative, 30,000 shares authorized; 11,000 shares issued, ____? outstanding......................................................................... $ 1,100,000 Common stock, $10 stated value, 600,000 shares authorized; 200,000 shares issued, ____? shares outstanding.......................... 2,000,000 Paid-in capital in excess of par value preferred stock ......................... 410,000 Retained earnings ............................................................................ 1,960,000

Instructions: What is total stockholders equity? Prepare the stockholders equity section of the balance sheet. You should look at Illus. 11.18 to get a sense of what yours should look like. Use good form, indicating the number of authorized, issued, and outstanding shares for each class of stock.