Reference no: EM133150897

Question - Skysong Company reported the following balances at December 31, 2019: common stock $550,000; paid-in capital in excess of par value $130,000; retained earnings $265,000. During 2020, the following transactions affected stockholders' equity.

1. Issued preferred stock with a par value of $152,000 for $208,000.

2. Purchased treasury stock (common) for $43,500.

3. Earned net income of $165,000.

4. Declared and paid cash dividends of $71,000.

What the stockholders' equity section of Skysong Company's December 31, 2020, balance sheet.