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 $19 per share. At the end of the current year, Resisto has retained earnings of $382,000.

a. Prepare the stockholders' equity section of the company's balance sheet at the end of the current year.

Stockholders' Equity

Cumulative preferred stock

Common stock

Additional paid-in capital:

Cumulative preferred stock

Common stock

Total paid-in capital

Retained earnings

Total stockholders' equity $ 0 $ 0