Prepare the shareholders equity section of the balance sheet

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Reference no: EM13937548

Prepare equity section of the balance sheet.

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

Retained earnings	$ 870,000
Treasury stock (8,000 common shares at cost)		64,000
Common stock ($1 par, 600,000 shares authorized,
200,000 shares issued)		200,000
Additional paid-in capital, common stock		1,500,000
Preferred stock ($10 par value, 9%, 80,000 shares authorized,
15,000 shares issued)		150,000
Additional paid-in capital, preferred stock		45,000

Reference no: EM13937548

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