Question
The following accounts appear in the ledger of Alico Corporation after the books are closed at December 31, 2019. Common Stock, $2 par value, 700,000
The following accounts appear in the ledger of Alico Corporation after the books are closed at December 31, 2019. Common Stock, $2 par value, 700,000 shares authorized, 400,000 shares issued $800,000
Paid-in Capital in Excess of Par ValueCommon Stock .....650,000
Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 2,000 shares issued ..200,000
Retained Earnings ..900,000
Treasury Stock (10,000 common shares) 85,000
Paid-in Capital in Excess of Par ValuePreferred Stock .310,000
Required: Prepare the stockholders' equity section at December 31, 2019.
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