Kalmia Corporation has issued 440,000 shares $5 stated value common stock. It authorized 600,000 shares. The paid-in capital in excess of par on the common stock is $800,000. The corporation purchased 10,000 shares at a cost of $120,000.

The corporation also has 5,000 shares issues and outstanding of 8% par value preferred stock. It authorized 5,000 shares. The paid in capital in excess of par on the preferred stock is $280,000. Retained earnings is $1,334,000. Instructions

Prepare the stockholders equity section of the balance sheet on December 31, 2020.