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Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Refer to the lists of Accounts and Amount Descriptions provided for the exact wording of the answer choices for text entries.

Two hundred fifty thousand shares of common stock are authorized, and 17,500 shares have been reacquired.

Common Stock, $60 par

$12,000,0000

Paid-In Capital from Sale of Treasury Stock

320,000

Paid-In Capital in Excess of ParCommon Stock

3,200,000

Retained Earnings

18,500,000

Treasury Stock

1,137,500

Additional Info Provided:

Accounts and Amount Descriptions
Common stock, $60 par (250,000 shares authorized, 182,500 shares issued)
Common stock, $60 par (250,000 shares authorized, 200,000 shares issued)
Dividends on common stock
Excess of issue price over par
From sale of treasury stock
Issuance of additional common stock
Net income
Purchase of treasury stock
Retained earnings
Total
Total paid-in capital
Total stockholders equity
Treasury stock (17,500 shares at cost)