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Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Regarding the common stock, 8 0 , 0 0 0

Using the following accounts and balances, prepare the Stockholders Equity section of the balance sheet. Regarding the common stock, 80,000 shares are authorized, and 2,000 shares have been reacquired.Line Item DescriptionAmountCommon Stock, $60 par$3,840,000Paid-In Capital from Sale of Treasury Stock (2,000 shares at cost)115,000Paid-In Capital in Excess of ParCommon Stock1,024,000Retained Earnings1,805,000Treasury Stock71,000

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