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Premium Imports Inc. retalls racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Premium Imports Inc.

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Premium Imports Inc. retalls racing products for BMWs, Porsches, and Ferraris. The following accounts and their balances appear in the ledger of Premium Imports Inc. on November 30, the end of the current year: Common Stock, $10 par $380,000 Paid-In Capital in Excess of Par-Common Stock 114,000 Paid-In Capital in Excess of Par-Preferred Stock 65,400 Pald-In Capital from Sale of Treasury Stock-Common 28,700 Preferred 4% Stock, $50 par 1,090,000 Retained Earnings 2,047,300 Treasury Stock-Common 40,700 Fifty thousand shares of preferred and 200,000 shares of common stock are authorized. There are 3,700 shares of common stock held as treasury stock. Prepare the Stockholders' Equity section of the balance sheet as of November 30, the end of the current year. Premium Imports Inc. Stockholders' Equity Section of the Balance Sheet November 30 Prepare the Stockholders' Equity section of the balance sheet as of November 30, the end of the current year. Premium Imports Inc. Stockholders' Equity Section of the Balance Sheet November 30 Pald-in capital: Preferred 4% stock, $50 par (50,000 shares authorized, 21,800 shares issued) Excess of issue price over par Common stock, $10 par (200,000 shares authorized, 38,000 shares issued) Excess of issue price over par From sale of treasury stock Total pald-in capital Retained earnings Total Deduct treasury stock (3,700 shares at cost) . Total stockholders' equity

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