Preferred 1% Stock, $50 par (100,000 shares authorized, 80,000 shares issued) $4,000,000 Paid-In Capital in Excess of Par-Preferred Stock 175,000 Common Stock, $3 par (5,000,000 shares authorized, 2,000,000 shares issued) 6,000,000 Paid-In Capital in Excess of Par-Common Stock 1,500,000 Retained Earnings 32,350,000 During the year, the corporation completed a number of transactions affecting the stockholders' equity. They are summarized as follows