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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 3,000

Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 3,000 shares have been reacquired.

Common Stock, $50 par $1,750,000
Paid-In Capital in Excess of Par 111,050
Paid in Capital from Sale of Treasury Stock 6,050
Retained Earnings 138,000
Treasury Stock 4,550

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