The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Selig Corporation at December 31, 2010.
|
Common Stock ($5 stated value, 800,000 shares authorized) |
$2,900,000 |
|
Paid in Capital in Excess of Par Value—Preferred Stock |
158,000 |
|
Paid in Capital in Excess of Stated Value—Common Stock |
1,500,000 |
|
Preferred Stock (8%, $50 par, noncumulative, 50,000 shares |
900,000 |
|
Retained Earnings |
1,958,000 |
|
Treasury Stock—Common (20,000 shares) |
200,000 |
Instructions
Prepare the stockholders’ equity section of the balance sheet at December 31, 2010.