Stockholders' Equity Section of the Balance Sheet Prepare the stockholders' equity section of the Fremantle Corporation's balance sheet. 8 Percent preferred stock, $100 par value, 20,000 shares authorized; 5,000 shares issued and outstanding Common stock, $1 par value, 100,000 shares authorized; 40,000 shares issued and outstanding Paid-in capital in excess of par value-Preferred stock Paid-in capital in excess of par value-Common stock Retained earnings Total Stockholders' Equity $500,000 40,000 200,000 800,000 625,000 $2,165,000 The following transactions, among others, occurred during the year Jan 1 Announced a 2-for-1 common stock split, reducing the par value of the common stock to $0.50 per share Mar. 31 Converted $75.000 face value of convertible bonds payable (the book value of the bonds was $83,000) to common stock. Each $1,000 bond converted to 110 shares of common stock June 1 Acquired equipment with a fair market value of $45,000 in exchange for 300 shares of preferred stock Sept 1 Acquired 15,000 shares of common stock for cash at $20 per share Nov. 21 Issued 5,000 shares of common stock at $22 cash per share Dec. 28 Sold 1,000 treasury shares at $23 per share 31 Closed net income of $125,000, to the Retained Earnings account. Do not use negative signs with your answers. Paid in Capital Stockholders' Equity Preferred Stock Additional Paid-in-Capital Paid-in-Capital in Excess of Par value - Preferred Stock Paid-in-Capital in Excess of Par value - Common Stock Total Paid-in-Capital Preferred Stock Common Stock Retained Earnings Total Stockholders' Equity Total Paid-in-Capital Paid-in-Capital from Treasury Stock Less: Treasury Stock - Common " 0 0 0 13