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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) | $ | 102,000 | |
Additional Paid-in Capital, Preferred | 13,770 | ||
Common Stock (no-par; authorized 20,000 shares, issued and outstanding 5,900 shares) | 584,100 | ||
Retained Earnings | 29,000 | ||
Treasury Stock, 1,000 Preferred shares at cost | 9,450 | ||
Assume that no shares of treasury stock have been sold in the past.
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