Pine Corporation has the following accounts at December 31 C

Pine Corporation has the following accounts at December 31: Common Stock, $9 par, 5,000 shares issued, $45,000; Paid-in Capital in Excess of Par-Common Stock $32,000; Retained Earnings $50,000; and Treasury Stock, 600 shares, $14,400. Prepare the stockholders\' equity section of the balance sheet. (Enter the account name only and do not provide the descriptive information provided in the question PINE CORPORATION Balance Sheet (Partial)

Solution

Balance Sheet(Partial) December 31 Stockholders’ equity Paid-in Capital Capital Stock Common Stock 45000 Additional Paid-in Stock Paid-in Capital in Excess of Par—Common Stock 32000 Total paid in Capital 77000 Retained Earnings 50000 Total paid in Capital and Retained Earnings 127000 Less: Treasury Stock 14400 Total Stockholders’ equity 112600