Question
Monty Corp. has issued 108,000 shares of $5 par value common stock. It was authorized 496,000 shares. The paid-in capital in excess of par value
\Monty Corp. has issued 108,000 shares of $5 par value common stock. It was authorized 496,000 shares. The paid-in capital in excess of par value on the common stock is $260,000. The corporation has reacquired 7,000 shares at a cost of $53,000 and is currently holding those shares. It also had accumulated other comprehensive income of $69,000. The corporation also has 2,700 shares issued and outstanding of 9%, $105 par value preferred stock. It authorized 9,700 shares. The paid-in capital in excess of par value on the preferred stock is $25,400. Retained earnings is $385,000
FOYLE CORPORATION Balance Sheet (Partial)Step by Step Solution
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