Stockholders' Equity Category

Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,200 shares of $100 par, 7% cumulative, nonparticipating preferred stock and 11,000 shares of $5 par common stock. On January 10, Peeler issued for cash 530 shares of preferred stock at $124 per share and 4,100 shares of common stock at $82 per share. On January 20, it issued 1,200 shares of common stock to acquire a building site at a time when the stock was selling for $69 per share.

During 2017, Peeler established an employee benefit plan and acquired 590 shares of common stock at $62 per share as treasury stock for that purpose. Later in 2017, it resold 110 shares of the stock at $67 per share.

On December 31, 2017, Peeler determined its net income for the year to be $42,200. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $4 per share to the common stockholders. The dividends will be paid in 2018.

Required:

1. Develop the Stockholders' Equity category of Peeler's balance sheet as of December 31, 2017. For those boxes in which you must enter subtracted or negative numbers use a minus sign.

1^st dropdown: Accounts payable, cash, dividends, preferred stock, plant property and equipment

2^nd dropdown: Accounts receivable, accounts payable, common stock, cash, dividends

3^rd dropdown: Additional paid in capital preferred stock, accounts receivable, accounts payable, dividends, plant property and equipment

4^th dropdown: Additional paid in capital common stock, Accounts receivable, accounts payable, cash, dividends

5^th dropdown: Additional paid in capital treasury stock, Accounts receivable, accounts payable, dividends, plant property and equipment

6^th dropdown: Accounts receivable, accounts payable, cash, retained earnings, plant property and equipment

7^th dropdown: Accounts receivable, accounts payable, cash, plant property and equipment, treasury stock

Peeler Company Partial Balance Sheet December 31, 2017 Stockholders' equity ) Total contributed capital int Total stockholders' equity $0 2. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock. Preferred Stock Common Stock Number of shares authorized Number of shares issued Number of shares outstanding