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Prom Night Formal Wear has the following stockholders' equity accounts at December 31,2024 : Common Stock, $1 par value, 2,600,000 shares; Additional Paid-in Capital, $24
Prom Night Formal Wear has the following stockholders' equity accounts at December 31,2024 : Common Stock, $1 par value, 2,600,000 shares; Additional Paid-in Capital, $24 million; Retained Earnings, $16 million; and Treasury Stock, 50,000 shares, $1.50 million. Required: Prepare the stockholders' equity section of the balance sheet. (Enter your answers in dollars, not in millions. For example, 5 millio should be entered as 5,000,000. Amounts to be deducted should be indicated with a minus sign.)
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