Question 1: The following accounts appear in the ledger of Planter Inc. after the books are closed at December 31, 2003. (10 marks) Common Stock, Si par value, 500,000 shares authorized, 400,000 shares issued $400,000 Treasury Stock (10,000 common shares) 75,000 Long term investments 50,000 Common Stock Dividends Distributable 60,000 Paid-in Capital in Excess of Par Value Common Stock 550,000 Preferred Stock, S100 par value, 8%, 10,000 shares authorized; 3,000 shares issued 300,000 Deferred income tax 25,000 Retained Earnings 650.000 Paid-in Capital in Excess of Par Value-Preferred Stock 310,000 Instructions Prepare the stockholders' equity section at December 31, 2003 in the classified balance sheet (IFRS format and order), assuming that retained earnings is restricted for plant expansion in the amount of $200,000. PLANTER INC. Partial Classified Balance Sheet December 31, 2003 Shareholders' Equity section: Page 1 of 3