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United Apparel has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $840,000; Common Stock, $590,000; Preferred Stock, $3,500,000; Retained
United Apparel has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $840,000; Common Stock, $590,000; Preferred Stock, $3,500,000; Retained Earnings, $2,150,000; and Additional Paid-in Capital, $8,700,000. Required: Prepare the stockholders' equity section of the balance sheet for United Apparel as of December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.)
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