Prepare the Stockholders' Equity Section Renee Corporation has the following stockholders' equity information: $5 Par Common $10 Par Preferred Additional paid-in capital $2,250,000 $50,000 Shares: Authorized Issued Outstanding 750,000 40,000 300,000 8,000 250,000 8,000 Retained earnings is $1,837,000, and the cost of treasury shares is $1,200,000. Required: Prepare the stockholders' equity portion of Renee's balance sheet. Renee Corporation Balance Sheet (Partial) December 31 Stockholders' equity: Common stock Preferred stock Additional paid-in capital: Common stock, $5 par, 750,000 shares authorized, 300,000 shares issued, and 250,000 shares outstanding Common stock Total additional paid-in capital Total capital stock Retained earnings Less: Treasury stock Total stockholders' equity 2,250,000 x 50,000 1,500,000 X 80,000 X 2,300,000 3,880,000 1,837,000 -1,200,000 4,517,000