The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Kenton Corporation at December 31, 2010.
|
Common Stock ($5 stated value) |
$2,000,000 |
|
Paid in Capital in Excess of Par Value—Preferred Stock |
45,000 |
|
Paid in Capital in Excess of Stated Value—Common Stock |
1,050,000 |
|
Preferred Stock (8%, $100 par, noncumulative) |
500,000 |
|
Retained Earnings |
1,334,000 |
|
Treasury Stock—Common (8,000 shares) |
78,000 |
Instructions
Prepare the stockholders’ equity section of the balance sheet at December 31, 2010.