Prelerred stock, $50 par value, 20,000 shares authorized, 5,000 shares issued and t 50.000 Common stock, $10 par value, 60,000 shares authorized, 42,000 shares issued and outstanding 420,000 Paid-in capital in excess of par 119,000 Total paid-in capital 789,000 Retained earning5 448,000 Total stockholders equity 1,237,000 Your answer is partially correct. Try again, Record the following transactions which occurred consecutively. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Ir no entry is required, select "No Entry" for the account tities and enter O for the amounts) 1. A total cash dividend of $75,000 was declared and payable to stockholders of recond. Record dividends payable on common and preferred stock in separate accounts A15% common stock dividend was declared. The average tar vale at the common stock sa 2. a share. 3. Assume that net income for the year was $144,000 directors appropriated $72,000 of retained eamings for plant expansion. record the closing entry) and the boand o No. Account Titles and Explanation Debit Credit 51200 O (To record the closing entries.) (To record appropriated retained earnings.) Your answer is partially correct. Try again. Construct the stockholders' equity section incorporating all the above information FOLEY CORPORATION Balance Sheet (Partial)