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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 49,500 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answer in the question below. Open spreadsheet
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