Marigold Corporation's post-closing trial balance at December 31, 2020, is shown as follows. MARIGOLD CORPORATION POST-CLOSING TRIAL BALANCE DECEMBER 31, 2020 Dr. Cr. Accounts payable $393,600 Accounts receivable $ 463,000 Accumulated depreciation-buildings 183,000 Additional paid-in capital in excess of par-common 1,309,000 From treasury stock 169,000 Allowance for doubtful accounts 31,000 Bonds payable 317,000 Buildings 1,488,000 Cash 205,000 Common stock ($1 par) 215,000 Dividends payable (preferred stock-cash) 4,400 Inventory 612,000 Land 382,000 Preferred stock ($50 par) 450.000 Prepaid expenses 37,000 Retained earnings 297,000 Treasury stock (common at cost) 182,000 Totals $3,369,000 $3,369.000 MacBook Air 0 F3 DOO 54 # 3 A TA 2 % 5 4 & 7 6 At December 31, 2020, Marigold had the following number of common and preferred shares. Common Preferred Authorized 645,000 54,000 Issued 215,000 9,000 Outstanding 202,000 9,000 The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. MARIGOLD CORPORATION Stockholders' Equity