In: Accounting
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
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