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The following stockholders’ equity accounts arranged alphabetically are in the ledger of Galindo Corporation at December 31, 2020.
Common Stock ($5 stated value) .................................................................... $2,000,000
Paid-in Capital from Treasury Stock ...................................................................... 10,000
Paid-in Capital in Excess of Par—Preferred Stock ......................................... 679,000
Paid-in Capital in Excess of Stated Value—Common Stock ................... 1,600,000
Preferred Stock (8%, $50 par) ................................................................................ 800,000
Retained Earnings ................................................................................................... 1,748,000
Treasury Stock (10,000 common shares) .......................................................... 130,000
Instructions
Prepare a stockholders’ equity section at December 31, 2020.
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