Practice Problem 15-1 Carla Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par common. At December 31, 2017, the following accounts were included in stockholders' equity Preferred Stock, 60,000 shares Common stock, 800,000 shares Paid-in Capital in Excess of Par Preferred Stock420,000 Paid-in Capital in Excess of Par Common Stock 20,800,000 Retained Earnings $6,000,000 1,600,000 12,800,000 The following transactions affected stockholders' equity during 2018. Jan. 1500 shares of preferred stock issued at $107 per share. Mar. 21 109,000 shares of common stock issued at $42 per share. June 1 - 2-for-1 common stock split (par value reduced to $1). July 15 73,000 shares of common treasury stock purchased at $29 per share. Carla uses the cost method. Sept. 4 -9,000 shares of treasury stock reissued at $35 per share. Dec. 31 - The preferred dividend is declared, and a common dividend of 79c per share is declared. Dec. 31- Net income is $4,654,000. Prepare the stockholders equity section for Hatch Company at December 31, 2018. CARLA COMPANY Stockholders Equity December 31, 2018