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Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 2,500

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Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 2,500 shares have been reacquired. $1,170,000 Common Stock, $30 par Paid-In Capital in Excess of Par 123,030 Paid-In Capital from Sale of Treasury Stock 6,030 Retained Earnings 114,000 Treasury Stock 4,530 Stockholders' Equity Contributed capital: Common stock, $30 par (50,000 shares authorized, 39,000 issued 1,170,000 Additional paid-in capital 330,000 1,299,060 X Total contributed capital Retained earnings 114,000 Total Treasury stock 6,030 X Total stockholders' equity

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