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Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. Debit Credit Retained earnings 1,500,000 Cash 125,000 Additional Paid-in
Prepare the Stockholders' Equity Section Wildcat Drilling has the following accounts on its trial balance. Debit Credit Retained earnings 1,500,000 Cash 125,000 Additional Paid-in Capital-Common 10,000,000 Additional Paid-in Capital-Preferred 2,000,000 Accounts payable 75,000 Accounts receivable 150,000 Common stock, $2 par 800,000 Preferred stock, $10 par 600,000 Inventory 500,000 Treasury stock-common (40,000 shares) 250,000 Accumulated other comprehensive income 50,700 Required:
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