Prepare a stockholder's equity section of the balance sheet in proper format using the following information....

Prepare a stockholder's equity section of the balance sheet in proper format using the following information. (Remember treasury stock is common stock)

Poppa Inc. was organized and authorized to issue 25,000 shares of $500 par value, 4% percent preferred stock, and 250,000 shares of $6 par value common stock on July 1, 2019

a. Issued 1,200 shares of preferred stock

b. APIC – preferred 15,000

c. Issued 60,000 shares of common stock

d. APIC-Common 194,000

e. Had 3,000 shares of treasury stock at a cost of 30,000

f. APIC-Treasury 4,200

g. Retained earnings had a balance of 23,000

Expert Solution

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