The following stockholders” equity accounts, arranged alphabetically, are in the ledger of Charlotte Corporation at December 31, 2012.
| Common Stock ($2 stated value, 1,800,000 shares authorized) | $2,600,000 |
| Paid-in Capital in Excess of Par Value—Preferred Stock | 158,000 |
| Paid-in Capital in Excess of Stated Value—Common Stock | 1,950,000 |
| Preferred Stock (8%, $50 par, noncumulative, 50,000 shares | |
| authorized) | 900,000 |
| Retained Earnings | 1,958,000 |
| Treasury Stock—Common (20,000 shares) | 80,000 |
Instructions
Prepare the stockholders” equity section of the balance sheet at December 31, 2012.
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