Required information [The following information applies to the questions displayed below.] Bacon Inc. has the following stockholders' equity section in its May 31, 2019, comparative balance sheets: May 31, 2019 Paid-in capital: Preferred stock, $120 par value, 9%, cumulative, 200,000 shares authorized, 140,000 shares issued and outstanding. Common stock, $5 par value, 1,000,000 shares authorized, 600,000 and 540,000 shares issued, respectively Additional paid-in capital Retained earnings Less: Treasury common stock, at cost; 72,000 shares and 68,000 shares, respectively Total stockholders' equity $16,800,000 Common stock ? 26,100,000 36,200,000 (4,412,000) $ Required: a. Calculate the amount that should be shown on the balance sheet for common stock at May 31, 2019. 7 April 30, 2019 $16,800,000 2,700,000 23,220,000 34,640,000 (4,148,000) $73,212,000