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Using the following accounts and balances, prepare the Stockholders' Equity section of the balance sheet. Regarding the common stock, 60,000 shares are authorized, and 10,000
Using the following accounts and balances, prepare the "Stockholders' Equity" section of the balance sheet. Regarding the common stock, 60,000 shares are authorized, and 10,000 shares have been reacquired. Common Stock, $40 par $1,920,000 Paid-In Capital from Sale of Treasury Stock (10,000 shares at cost) Paid-In Capital in Excess of ParCommon Stock 576,000 Retained Earnings 960,000 Treasury Stock 39,000 Balance Sheet Line Item Description Amount Amount Stockholders' Equity Paid-in capital: Paid-in capital, common stock paid-in capital Total Total stockholders' equity
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