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The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts: Contributed Capital Preferred Stock (par $20; authorized 10,000
The stockholders' equity section on the December 31 balance sheet of Chemfast Corporation reported the following amounts:
Contributed Capital | |
---|---|
Preferred Stock (par $20; authorized 10,000 shares, ? issued, of which 1,000 shares are held as treasury stock) | $ 86,000 |
Additional Paid-In Capital, Preferred | 9,890 |
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,100 shares) | 464,100 |
Retained Earnings | 21,000 |
Treasury Stock, 1,000 Preferred shares at cost | (9,050) |
Assume that no shares of treasury stock have been sold in the past.
Required:
Complete the following statements.
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