The following Stockholders' Equity section of the balance sheet prepared as of the end of the current year contains errors.

Prepare a corrected Stockholders Equity section using Method 1 of

Exhibit 9

. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign.

Stockholders Equity

1	Paid-in capital:
2	Preferred 2% stock, $80 par
3	(125,000 shares authorized and issued)	$10,000,000.00
4	Excess of issue price over par	500,000.00
5	Paid-in capital, preferred stock		$10,500,000.00
6	Retained earnings		96,700,000.00
7	Treasury stock (75,000 shares at cost)		1,755,000.00
8	Dividends payable		430,000.00
9	Total paid-in capital		$109,385,000.00
10	Common stock, $20 par
11	(1,000,000 shares authorized, 825,000 shares issued)		17,655,000.00
12	Organizing costs		300,000.00
13	Total stockholders equity		$127,340,000.00

Accounts and Amount Descriptions

Accounts and Amount Descriptions
Common stock, $20 par (1,000,000 shares authorized, 825,000 shares issued)
Decrease in retained earnings
Dividends payable
Excess of issue price over par
Increase in retained earnings
Organizing costs
Paid-in capital, common stock
Paid-in capital, preferred stock
Preferred 2% stock, $80 par (125,000 shares authorized and issued)
Retained earnings
Total
Total paid-in capital
Total stockholders equity
Treasury stock (75,000 shares at cost)

Stockholders Equity

Prepare a corrected Stockholders Equity section using Method 1 of

Exhibit 9

. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted negative numbers use a minus sign.

Stockholders Equity

1	Paid-in capital:
2
3
4
5
6
7
8
9
10
11
12