When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock.

Half of the preferred stock was issued at a price of $104 per share, and 67,000 shares of the common stock were sold for $23 per share. At the end of the current year, Resisto has retained earnings of $382,000.

a. Prepare the stockholders equity section of the companys balance sheet at the end of the current year.

X Answer is complete but not entirely correct. Balance Sheet (Partial) Stockholders' Equity Common stock 140,000 X Cumulative preferred stock 250,000 Additional paid-in capital: Common stock 777,000 Cumulative preferred stock 7,500 X $ 1,174,500 Total paid-in capital Retained earnings 382,000 Total stockholders' equity $ 1,556,500