Question
Pina Colada Corp. has issued 106,000 shares of $ 4 par value common stock. It was authorized 494,000 shares. The paid-in capital in excess of
Pina Colada Corp. has issued 106,000 shares of $ 4 par value common stock. It was authorized 494,000 shares. The paid-in capital in excess of par value on the common stock is $ 258,000. The corporation has reacquired 6,800 shares at a cost of $ 46,500 and is currently holding those shares. It also had accumulated other comprehensive income of $ 68,000. The corporation also has 1,800 shares issued and outstanding of 8%, $ 101 par value preferred stock. It authorized 10,000 shares. The paid-in capital in excess of par value on the preferred stock is $ 22,300. Retained earnings is $ 375,000. Prepare the stockholders equity section of the balance sheet. (Enter account name only and do not provide descriptive information.)
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