The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Borkowski Corporation at December 31, 2012.
|
Common Stock ($5 stated value) |
$1,700,000 |
|
Paid in Capital in Excess of Par—Preferred Stock |
280,000 |
|
Paid in Capital in Excess of Stated Value—Common Stock |
900,000 |
|
Preferred Stock (8%, $100 par, noncumulative) |
500,000 |
|
Retained Earnings |
1,134,000 |
|
Treasury Stock (10,000 common shares) |
120,000 |
Instructions
Prepare the stockholders’ equity section of the balance sheet at December 31, 2012.