For the Current Year Ended, ABC Had the Following Transactions

Short Answer

For the current year ended, ABC had the following transactions:
- Issued 10,000 shares of $2.00 par value common stock for $12.00 per share.- Issued 3,000 shares of $50 par value 6% preferred stock for $70 per share.- Purchased 1,000 shares of previously issued common stock for $15.00 per share.- Reported net income of $200,000.- Declared and paid a total dividend of $40,000.​
Assume that retained earnings had a beginning balance of $75,000.The company does not have any stock outstanding as of the beginning of the current year.​
a.Treasury stock
b.Retained earnings
c.Preferred stock
d.Excess of issue price over par (preferred)e.Common stock
f.Total paid-in capital
g.Excess of issue price over par (common)h.Total stockholders' equity
-$15,000