To complete the stockholders' equity section at December 31, 2011, we need to calculate the total amounts for each category. Here's how you can do it:
1. Calculate the total Common Stock:
Common Stock ($10 stated value) = $1,500,000
2. Calculate the total Paid-in Capital from Treasury Stock:
Paid-in Capital from Treasury Stock = $6,000
3. Calculate the total Paid-in Capital in Excess of Stated Value-Common Stock:
Paid-in Capital in Excess of Stated Value-Common Stock = $690,000
4. Calculate the total Paid-in Capital in Excess of Par Value-Preferred Stock:
Paid-in Capital in Excess of Par Value-Preferred Stock = $288,400
5. Calculate the total Preferred Stock:
Preferred Stock (8%, $100 par, noncumulative) = $400,000
6. Calculate the total Retained Earnings:
Retained Earnings = $776,000
7. Calculate the total Treasury Stock-Common:
Treasury Stock-Common (8,000 shares) = $88,000
Now, let's add up the totals and complete the stockholders' equity section:
Stockholders' Equity:
Common Stock ($10 stated value) $1,500,000
Paid-in Capital from Treasury Stock $6,000
Paid-in Capital in Excess of Stated Value-Common Stock $690,000
Paid-in Capital in Excess of Par Value-Preferred Stock $288,400
Preferred Stock (8%, $100 par, noncumulative) $400,000
Retained Earnings $776,000
Treasury Stock-Common $88,000
Total Stockholders' Equity $4,748,400
Therefore, the stockholders' equity section at December 31, 2011, is as follows:
Stockholders' Equity:
Common Stock ($10 stated value) $1,500,000
Paid-in Capital from Treasury Stock $6,000
Paid-in Capital in Excess of Stated Value-Common Stock $690,000
Paid-in Capital in Excess of Par Value-Preferred Stock $288,400
Preferred Stock (8%, $100 par, noncumulative) $400,000
Retained Earnings $776,000
Treasury Stock-Common $88,000
Total Stockholders' Equity $4,748,400