When resisto systems inc was formed the company was

Reference no: EM13584233

When Resisto Systems, Inc., was formed, the company was authorized to issue 5,000 shares of $100 par value, 8 percent cumulative preferred stock, and 100,000 shares of $2 stated value common stock. Half of the preferred stock was issued at a price of $101 per share, and 57,000 shares of the common stock were sold for $24 per share. At the end of the current year, Resisto has retained earnings of $382,000
a.

Prepare the stockholders' equity section of the company's balance sheet at the end of the current year

Reference no: EM13584233

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