Problem 11-5A Novak Corp. has been authorized to issue 20,000 shares of $100 par value, 8%, noncumulative preferred stock and 1,100,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (4,000 common shares) Retained Earnings Accumulated Other Comprehensive Income $150,000 21,000 1,960,000 1,510,000 40,000 85,000 49,000 The preferred stock was issued for $171,000 cash. All common stock issued was for cash. In November 4,000 shares of common stock were purchased for the treasury at a per share cost of $10. No dividends were declared in 2017. > Help System Announcements Partial Balance Sheet December 31, 2017 DDDDDDD