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Item 2: The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Entity M Corporation at December 31, 2024. Common Stock ( $1
Item 2: The following stockholders' equity accounts, arranged alphabetically, are in the ledger of Entity M Corporation at December 31, 2024. Common Stock ( $1 par value, 1,000,000 shares authorized, 300,000 shares issued and? shares outstanding ) Paid-In Capital in Excess of Par Value-Preferred Stock............ $300,000 Paid-in Capital in Excess of Par Value-Common Stock 100,000 Preferred Stock ( 9%,$100 par, noncumulative, 35,000 shares authorized, 5,000 shares issued and outstanding) 2,000,000 Rotained Earnings 500,000 Treasury Stock (3,500 common shares at cost) 300,000 14,000 Instructions: Prepare the stockholders' equity section of the balance sheet in good form at December 31, 2024. Bo sure to Indleato how many shares are authorized, lesued, and outstanding for each class of stock
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