Reference no: EM132602871
The December 31, 2022 balance sheet of Entity M showed the following:
Treasury stock (30,000 shares).............................................................. $ 630,000
Paid-in capital in excess of par value - common stock.......................... 27,000,000
8% preferred stock, $20 par value, cumulative,
30,000 shares authorized; 15,000 shares issued............................. $ 300,000
Common stock, $10 par value, 3,000,000 shares authorized;
1,950,000 shares issued, ____? shares outstanding....................... 19,500,000
Paid-in capital in excess of par value - preferred stock......................... 60,000
Retained earnings ............................................................................. 7,650,000
Instructions:
Question 1: What is total stockholders' equity? Prepare the stockholders' equity section of the balance sheet. Do so in good form, indicating the number of authorized, issued, and outstanding shares for each class of stock.
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