Restrictions on Retained Earnings At December 31, 2010, Longfellow Clothing had $226,700 of retained earnings, all unrestricted. During 2011, Longfellow earned net income of $92,000 and declared and paid cash dividends on comman stock of $21,800. During 2011, Longfellow sold a bond issue with a covenant that required Longfellow to transfer from retained earnings to restricted retained earnings an amount equal to the principal of the bond issue, $48,000. At December 31, 2011, Long-fellow has 30,000 shares of $5 par common stock issued and outstanding. Additional paid-in capital-common stock is $251,600. Hide Prepare the stockholders' equity portion of Longfellow's December 31, 2011, balance sheet. Longfellow Clothing Balance Sheet (Partial) December 31, 2011 Stockholders' equity: Common stock, $5 par, 30,000 $ 150000 Additional paid-in capital-com Total capital stock Retained earnings: Restricted retained earnings u s 243900 Unrestricted retained earnings 53000 Total stockholders' equity 669800