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 10,000 shares of $5 par common stock. On January 10, Peeler issued for cash 470 shares of preferred stock at $110 per share and 4,400 shares of common stock at $79 per share. On January 20, it issued 1,000 shares of common stock to acquire a building site at a time when the stock was selling for $68 per share. During 2017, Peeler established an employee benefit plan and acquired 530 shares of common stock at $61 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 vear to be $41,500. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 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. Peeler Company Partial Balance Sheet December 31, 2017 Stockholders' equity Preferred stock I $ 51,700 Common stock 27,000 Additional paid-in capital-preferred stock 4,700 Additional paid-in capital-common stock 338,600 x Additional paid-in capital-treasury stock 1 660 Total contributed capital $ 422,660 Retained earnings 12,981 Treasury stock -24,960 Total stockholders' equity 410,681 X 2. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock. Number of shares authorized Preferred Stock 1,200 470 Common Stock 10,000 5,400 Number of shares issued Number of shares outstanding 730 X 4,600 x Feedback