=+On January 31 ofthe current year, the following accounts and their balances appear in the led¬

ger ofGargantuan Corp., a meat processor:

Preferred 3% Stock, $25 par (50,000 shares authorized, 30,000 shares issued) $ 750,000 Paid-In Capital in Excess of Par—Preferred Stock 90,000 Common Stock, $30 par (400,000 shares authorized, 120,000 shares issued) 3,600,000 Paid-In Capital in Excess of Par—Common Stock 300,000 Retained Earnings 5,794,000