Stockholders Equity: Transactions and Balance Sheet Presentation The stockholders equity accounts of Scott Corporation at January 1 follow:

Common stock, $5 par value, 350,000 shares authorized;
150,000 shares issued and outstanding	$750,000
Paid-in capital in excess of par value	600,000
Retained earnings	346,000

During the year, the following transactions occurred:

Jan.	5	Issued 10,000 shares of common stock for $12 cash per share.
	18	Purchased 4,000 shares of common stock as treasury stock at $14 cash per share.
Mar.	12	Sold one-fourth of the treasury shares acquired January 18 for $17 per share.
July	17	Sold 500 shares of the remaining treasury stock for $13 per share.
Oct.	1	Issued 5,000 shares of eight percent, $25 par value preferred stock for $35 cash per share.
		These are the first preferred shares issued out of 50,000 authorized shares.
Dec.	31	Closed the net income of $72,500 to the Retained Earnings account. c. Prepare the December 31 stockholders equity section of the balance sheet.