*SEE PICTURE

Stockholder's Equity on a balance sheet usually has four parts. Here is an excerpt from the Stockholder's Equity section of a hypothetical balance sheet. Par value ($1, 1 million shares outstanding) Contributed in excess of par Less Treasury stock Retained earnings Total Stockholder's Equity USD million 1.00 24.00 3.00 48.00 70.00 Explain each of the four components to a person with limited knowledge of accounting.

Stockholder's Equity on a balance sheet usually has four parts. Here is an excerpt from the Stockholder's Equity section of a hypothetical balance sheet. Explain each of the four components to a person with limited knowledge of accounting