Question 3 Not yet answered Marked out of 3.00 p Flag question Jack Corporation has issued 500,000 shares of $5 par value ordinary shares. It authorized 600,000 shares. The share premium on ordinary shares is $400,000. The corporation has reacquired 10,000 shares at a cost of $100,000 and is currently holding those shares. Treasury stock was reissued in prior years for $150,000 more than its cost. The corporation also has 7,000 shares issued and outstanding of 8%, $100 par value preference shares. It authorized 10,000 shares. The share premium on preference shares is $250,000. Retained earnings is $1,000,000 Instructions: Prepare the stockholders' equity section of the statement of financial position. Paragraph BEE