The following accounts appear in the ledger of Ortiz Inc. after the books are closed at December 31.

Instructions

Prepare the stockholders’ equity section at December 31, assuming retained earnings is restricted for plant expansion in the amount of $100,000.

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Common Stock, no par, $1 stated value, 400,000 shares authorized; 300,000 shares issued Common Stock Dividends Distributable Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock, $5 par value, 8%, 40,000 shares authorized; 30,000 shares issued Retained Earnings Treasury Stock (10,000 common shares) Paid-in Capital in Excess of Par Value-Preferred Stock $ 300,000 1,200,000 150,000 800,000 74,000 344,000