Stockholders’ Equity
Paid-in capital:
Preferred 2% stock, $60 par (94,000 shares authorized and
issued)
$5,640,000
Excess of issue price over par
375,000
$6,015,000
Retained earnings
72,525,000
Treasury stock (56,000 shares at cost)
868,000
Dividends payable
323,000
Total paid-in capital
$79,731,000
Common stock, $10 par (750,000 shares authorized, 619,000
shares issued)
6,623,000
Organizing costs
225,000
Total stockholders' equity
$86,579,000
Prepare a corrected Stockholders' Equity section. Use the minus
sign to indicate any values that are deducted on the statement.