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Draco Corporation's first year of business, the following transactions affected its equity accounts. -Issued 4,200 shares...

Draco Corporation's first year of business, the following transactions affected its equity accounts.
-Issued 4,200 shares of $2 par value common stock for $20. It authorized 20,000 shares.
-Issued 1,050 shares of 12%, $10 par value preferred stock for $25. It authorized 3,000 shares.
-Reacquired 210 shares of common stock for $32 each.
-Retained earnings is impacted by reporting net income of $52,000 and cash dividends of $16,000.

Prepare the stockholders' equity section of Draco's balance sheet as of December 31.

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ekkarill92 answered 1 year ago
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