Question
Johansson Corporation has issued 400,000 shares of $2 par value Ordinary shares. It authorized 600,000 shares. The share premium on ordinary shares is $500,000. The
Johansson Corporation has issued 400,000 shares of $2 par value Ordinary shares. It authorized 600,000 shares. The share premium on ordinary shares is $500,000. The corporation has reacquired 20,000 shares at a cost of $80,000 and is currently holding those shares. Treasury stock was reissued in prior years for $100,000 more than its cost. The company declared the issuance of a stock dividend of 10,000 shares. The corporation also has 5,000 shares issued and outstanding of 9%, $100 par value preference shares. It authorized 10,000 shares. The share premium on preference shares is $100,000. Retained earnings is $1,000,000. Required: Prepare the stockholders equity section of the statement of financial position.
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