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The following stockholders equity accounts, arranged alphabetically, are in the ledger of Martinez Corp. at December 31, 2017. Common Stock ($2 stated value) $1,920,000 Paid-in
The following stockholders equity accounts, arranged alphabetically, are in the ledger of Martinez Corp. at December 31, 2017.
Common Stock ($2 stated value) | $1,920,000 | |
Paid-in Capital in Excess of Par ValuePreferred Stock | 54,000 | |
Paid-in Capital in Excess of Stated ValueCommon Stock | 1,260,000 | |
Preferred Stock (7%, $100 par, noncumulative) | 720,000 | |
Retained Earnings | 1,600,800 | |
Treasury Stock (14,400 common shares) | 86,400 |
Prepare the stockholders equity section of the balance sheet at December 31, 2017.
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