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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
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 preferted stock was issued at a price of $103 per share, and 70,000 shares of the common stock were sold for $13 per shate. At the end of the current year. Resisto has retained eainings of $475,000. a. Prepare the stockholders' equity section of the componv's batance sheet at the end of the current year
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