Using the Following Information, Prepare the Stockholders' Equity Section of the Balance

Essay

Using the following information, prepare the stockholders' equity section of the balance sheet. Seventy thousand shares of common stock are authorized and 7,000 shares have been reacquired.
​ $$\begin{array} { | l | r | } \hline \text { Common Stock, } \$ 75 \text { par } & \$ 4,725,000 \\\hline \text { Paid-In Capital in Excess of Par } & 679,000 \\\hline \text { Paid-In Capital from Sale of Treasury Stock } & 25,200 \\\hline \text { Retained Earnings } & 2,032,800 \\\hline \text { Treasury Stock } & 600,000 \\\hline\end{array}$$