The stockholders equity section of Grouper Corp.s balance sheet at December 31 is presented here. GROUPER CORP. Balance Sheet (partial) Stockholders equity

Paid-in capital Preferred stock, cumulative, 9,500 shares authorized, 5,700 shares issued and outstanding $ 587,100

Common stock, no par, 748,707 shares authorized, 579,000 shares issued 2,895,000 Total paid-in capital 3,482,100 Retained earnings 1,200,000

Total paid-in capital and retained earnings 4,682,100

Less: Treasury stock (6,800 common shares) 36,267

Total stockholders equity $4,645,833 (

e) If dividends of $73,200 were in arrears on preferred stock, what would be the balance reported for retained earnings? The Retained Earnings balance