Describe the shareholders equity section of balance sheet

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Reference no: EM13937690

Prepare equity section of the balance sheet.

The following account balances can be found in the general ledger of Athletics Supply Cor poration at year-end. Prepare the shareholders' equity section of the balance sheet.

Retained earnings	$ 450,000
Treasury stock (4,000 common shares at cost) Common stock ($2 par, 500,000 shares authorized,	36,000
175,000 shares issued)	350,000
Additional paid-in capital, common stock	2,712,500
Preferred stock ($8 par value, 8%, 90,000 shares authorized,
20,000 shares issued)	160,000
Additional paid-in capital, preferred stock	50,000

Reference no: EM13937690

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