Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 12,000 shares of $5 par common stock. On January 10, Peeler issued for cash 600 shares of preferred stock at $119 per share and 4,100 shares of common stock at $81 per share. On January 20, it issued 1,400 shares of common stock to acquire a building site at a time when the stock was selling for $72 per share.

Stockholder Equity Homework eBook 0 Stockholders' Equity Category Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 12,000 shares of $5 par common stock. On January 10, Peeler issued for cash 600 shares of preferred stock at $119 per share and 4,100 shares of common stock at $81 per share. On January 20, it issued 1,400 shares of common stock to acquire a building site at a time when the stock was selling for $72 per share. During 2017, Poeler established an employee benefit plan and acquired 570 shares of common stock at $99 per share as treasury stock for that purpose. Later in 2017, it resold 140 shares of the stock at $67 per share. On December 31, 2017, Peeler determined its net income for the year to be $41,000. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 per share to the common stockholders. The dividends will be paid in 2018, Required: 1. Develop the Stockholders' Equity category of Peeler's balance sheet as of December 31, 2017. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Peeler Company Partial Balance Sheet December 31, 2017 Stockholders' equity Preferred stock 110,000 Common stock 27.500 Additional paid-in capital-preferred stock Additional paid-in capital-common stock Additional paid in capital-treasury stock Total contributed capital Retained earnings Treasury stock Total stockholders' equity Foedback 2. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock Preferred Stock Common Stock Number of shares authorized Number of shares issued Number of shares outstanding Check My Work 1 more Check My Work uses remaining Assignment Score: 36.36% All work saved Email Instructor Save and Exit Submit Assignment for Grading Stockholder Equity Homework eBook 0 Stockholders' Equity Category Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 12,000 shares of $5 par common stock. On January 10, Peeler issued for cash 600 shares of preferred stock at $119 per share and 4,100 shares of common stock at $81 per share. On January 20, it issued 1,400 shares of common stock to acquire a building site at a time when the stock was selling for $72 per share. During 2017, Poeler established an employee benefit plan and acquired 570 shares of common stock at $99 per share as treasury stock for that purpose. Later in 2017, it resold 140 shares of the stock at $67 per share. On December 31, 2017, Peeler determined its net income for the year to be $41,000. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 per share to the common stockholders. The dividends will be paid in 2018, Required: 1. Develop the Stockholders' Equity category of Peeler's balance sheet as of December 31, 2017. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Peeler Company Partial Balance Sheet December 31, 2017 Stockholders' equity Preferred stock 110,000 Common stock 27.500 Additional paid-in capital-preferred stock Additional paid-in capital-common stock Additional paid in capital-treasury stock Total contributed capital Retained earnings Treasury stock Total stockholders' equity Foedback 2. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock Preferred Stock Common Stock Number of shares authorized Number of shares issued Number of shares outstanding Check My Work 1 more Check My Work uses remaining Assignment Score: 36.36% All work saved Email Instructor Save and Exit Submit Assignment for Grading