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Prepare in proper form the stockholders' equity section of the balance sheet from the following selected accounts and balances taken from the adjusted trial balance
Prepare in proper form the stockholders' equity section of the balance sheet from the following selected accounts and balances taken from the adjusted trial balance of Thomas Corporation on June 30, 20x5.
Partial Adjusted Trial Balance | |||
Account | Debit | Credit | |
Common Stock$10 stated value, 50,000 shares authorized, | |||
45,000 shares outstanding | 450,000 | ||
Preferred Stock$100 par value, 8 percent cumulative convertible, | |||
3,000 shares authorized and outstanding | 300,000 | ||
Additional Paid-in Capital, Preferred | 15,000 | ||
Additional Paid-in Capital, Common | 75,000 | ||
Retained Earnings | 30,000 | ||
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