Using the Following Accounts and Balances, Prepare the Stockholders' Equity

Essay

Using the following accounts and balances, prepare the stockholders' equity section of the balance sheet. Fifty thousand shares of common stock are authorized, and 5,000 shares have been reacquired. $\begin{array}{lr}\text { Common Stock, } \$ 50 \text { par } & \$ 1,250,000 \\\text { Paid-In Capital in Excess of Par } & 800,000 \\\text { Paid-In Capital from Sale of Treasury Stock } & 42,000 \\\text { Retained Earnings } & 4,350,000 \\\text { Treasury Stock } & 155,000\end{array}$