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Teal Company reported the following amounts in the stockholders equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares

Teal Company reported the following amounts in the stockholders equity section of its December 31, 2019, balance sheet.

Preferred stock, 10%, $100 par (10,000 shares authorized, 2,200 shares issued) $220,000
Common stock, $5 par (95,500 shares authorized, 19,100 shares issued) 95,500
Additional paid-in capital 136,000
Retained earnings 455,000
Total $906,500

During 2020, Teal took part in the following transactions concerning stockholders equity.

1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019.
2. Purchased 1,700 shares of its own outstanding common stock for $42 per share. Teal uses the cost method.
3. Reissued 800 treasury shares for land valued at $34,600.
4. Issued 460 shares of preferred stock at $105 per share.
5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $45 per share.
6. Issued the stock dividend.
7. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021.

Prepare the December 31, 2020, stockholders equity section. Assume 2020 net income was $314,000. (Enter account name only .Do not provide any descriptive information.) TEAL COMPANY

STOCKHOLDERS' EQUITY

DECEMBER 31,2020

CAPITAL STOCK
COMMON STOCK ?
PREFERRED STOCK ?
TOTAL CAPITAL STOCK ?
ADDITIONAL PAID-IN CAPITAL ?
TOTAL PAID IN CAPITAL ?
RETAINED EARNINGS ?
TOTAL PAID IN CAPITAL AND RETAINED EARNINGS ?
LESS: TREASURY STOCK ?
TOTAL STOCK HOLDERS' EQUITY ?

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