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The following accounts appear in the ledger of Planter Inc. after the books are closed at...

The following accounts appear in the ledger of Planter Inc. after the books are closed at December 31, 2003.

Common Stock, $1 par value, 500,000 shares authorized, 400,000 shares issued    $400,000

Treasury Stock (10,000 common shares)     75,000

Long term investments    50,000   

Common Stock Dividends Distributable    60,000

Paid-in Capital in Excess of Par Value—Common Stock    550,000

Preferred Stock, $100 par value, 8%, 10,000 shares authorized; 3,000 shares issued     300,000

Deferred income tax    25,000

Retained Earnings     650,000

Paid-in Capital in Excess of Par Value—Preferred Stock     310,000

Prepare the stockholders' equity section at December 31, 2003 in the classified balance sheet (IFRS format and order), assuming that retained earnings is restricted for plant expansion in the amount of $200,000.

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Stockholders’ equity
Paid-in capital:
Capital stock
8% Preferred stock, $100 par value, 10,000 shares authorized,
  3,000 shares issued $             300,000
Common stock, no par, $1 par value
  value, 500,000 shares authorized, 400,000 shares issued and 390,000 outstanding $               400,000
Common stock dividends distributable $                 60,000 $             460,000
Total capital stock $             760,000
Additional paid-in capital:
In excess of par preferred stock $               310,000
In excess of stated value common stock $               550,000
Total additional paid-in capital $             860,000
Total paid-in capital $          1,620,000
Retained earnings (see Note) $             650,000
Total paid-in capital and retained earnings $          2,270,000
Less: Treasury stock (10,000 common shares) $              -75,000
Total stockholders’ equity $          2,195,000
Note: retained earnings is restricted for plant expansion in the amount of $200,000.

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