Item 2: The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Entity M Corporation at December 31, 2023.

Common Stock ($1 par value, 1,000,000 shares authorized,

200,000 shares issued and ? shares outstanding )$ 200,000

Paid-in Capital in Excess of Par ValuePreferred Stock 25,000

Paid-in Capital in Excess of Par ValueCommon Stock 2,800,000

Preferred Stock (9%, $100 par, noncumulative, 35,000 shares

authorized, 5,000 shares issued and outstanding) 1,000,000

Retained Earnings 750,000

Treasury Stock (7,000 common shares at cost) 126,000

Instructions: Prepare the stockholders equity section of the balance sheet in good form at December 31, 2022. You should look at Illus. 11.18 in the text for good form. Be sure to indicate how many shares are authorized, issued, and outstanding for each class of stock.