UUU od is 1 15% 4 per share. account for treasury . debt securities. At year end, the market value of these securities was $47,500. 5. Herrera sold 500 shares of treasury stock for $23 6. Net income for the first year of operations was $16,000. No dividends were declared. Required: Prepare the shareholders' equity section (and any related notes to the financial statements) of Herrera's balance sheet as of December 31, 2019. E16-11 Changes in Shareholders' Equity The shareholders' equity section of Flores Design Company's December 31 LO 16.3 2018, balance sheet appeared as follows: Contributed Capital: Preferred stock, $100 par (10,000 shares authorized, 1,250 shares issued) $125,067 Additional paid.in capital on preferred stock 55,000 Common stock, $10 par (60,000 shares authorized, 15,000 shares issued) 150,000 Additional paid in capital on common stock 105,000 Total contributed capital $435,000 Retained earnings 78,000 $513,000 Contributed capital and retained earnings Less: Treasury stock (300 shares of common at $14 per share) 14,200 $508,800 Total Shareholders' Equity SHOW ME HOW Send a chat . TFW Wi-Fi 4. Herrera invested $50,000 of excess cash, not needed to finance operations, in long-term available or