Question Six:

The following accounts appear in the ledger of Alico Corporation after the books are closed at

December $31,2019.$

Common Stock, $$2$ par value, $700,000$ shares authorized, $400,000$ shares

issued

$.$$$800,000$

Paid$-$in Capital in Excess of Par Value$-$Common Stock

$750,000$

Preferred Stock, $$100$ par value, $8\%,10,000$ shares authorized; $2,000$ shares

issued

$200,000$

Retained Earnings

$1,000,000$

Treasury Stock $(10,000$ common shares$)$

$85,000$

Paid$-$in Capital in Excess of Par Value$-$Preferred Stock

$410,000$

Required: Prepare the stockholders' equity section at December $31,2019.$