Presentation of Stockholders' Equity

Yeager Corporation a newly organized corporation, engaged in the following stockholders$$ equity activities:

Secured approval for a corporate charter that authorizes Yeager to sell $500,000,$ $$10$ par common shares and $40,000,$ $$100$ par preferred shares.

Sold $60,000$ of the common shares for $$16$ per share.

Sold $2,000$ of the preferred shares for $$102$ per share.

Repurchased $550$ shares of the common stock at a cost of $$11$ per share.

Earned net income of $$31,300.$

Paid dividends of $$6,000.$

Required:

Prepare the stockholders' equity portion of Yeager's balance sheet after accounting for these activities.

Yeager Corporation

Balance Sheet $($Partial$)$

December $31,20$XX

Stockholders' Equity:

Accounts payable

$Accounts payable

Accounts payable

Accounts payable

Additional paid$-$in capital:

Accounts payable

$Accounts payable

Accounts receivable

Accounts receivable

blank

Total additional paid$-$in capital blank fill in the blank $9$

$364,000$

Total capital stock $fill in the blank $10$

$1,164,000$

Accounts payable

Accounts payable

$25,300$

Less: Accounts payable

Less: Accounts payable

Total stockholders' equity $fill in the blank $15$