Stockholders Equity Paid in capital: Preferred 2% stock, $100 par (80,000 shares authorized, 30,000 shares issued)............. ......$3,000,000 Excess of issue price over par.. ................220,000 $3,220,000 Common stock, $6 par value (900,000 shares authorized, 700,000 shares issued... $4,200,000 Excess of issue price over par.................. 825,000 $5,025,000 Total paid in capital. $8,245.000 Retained earnings... 32,210,000 Total $40,455,000 Deduct treasury common stock............ (530,000) Total stockholders equity $39,925,000 Stockholders Equity Paid in capital: Preferred 2% stock, $100 par (80,000 shares authorized, 30,000 shares issued)............. ......$3,000,000 Excess of issue price over par.. ................220,000 $3,220,000 Common stock, $6 par value (900,000 shares authorized, 700,000 shares issued... $4,200,000 Excess of issue price over par.................. 825,000 $5,025,000 Total paid in capital. $8,245.000 Retained earnings... 32,210,000 Total $40,455,000 Deduct treasury common stock............ (530,000) Total stockholders equity $39,925,000