The December 31, 2023 balance sheet of Entity M showed the following:

Treasury stock (2,000 shares common).................................................. $ 24,000

Paid-in capital in excess of stated value common stock..................... 1,700,000

9% preferred stock, $100 par value, cumulative,

30,000 shares authorized; 12,000 shares issued,

____? outstanding $ 1,200,000

Common stock, $10 stated value, 600,000 shares authorized;

200,000 shares issued, ____? shares outstanding.......................... 2,000,000

Paid-in capital in excess of par value preferred stock......................... 410,000

Retained earnings ............................................................................. 1,690,000

Instructions: What is total stockholders equity? Prepare the stockholders equity section of the balance sheet. You should look at Illus. 11.18 to get a sense of what yours should look like. Use good form, indicating the number of authorized, issued, and outstanding shares for each class of stock.