Prepare the December 31, 2012, stockholders' equity section of the balance sheet assuming that the company reports net income of $72,500 for the year. Use a negative sign with your answer for treasury stock. Stockholders' Equity Paid-in capital 8% Preferred stock, $22 par value, 50,000 shares authorized, 5,000 shares issued and outstanding Answer 110,000 Common stock, $5 par value, 350,000 shares authorized; 130,000 shares issued Answer 650,000 Answer 760,000 Additional paid-in capital Paid-in capital in excess of par value-preferred stock Answer 50,000 Paid-in capital in excess of par value-common stock Answer 670,000 Paid-in capital from treasury stock Answer 2,500 Answer 722,500 Total paid-in capital Answer 1,482,500 Retained earnings Answer 418,500 Answer 1,901,000 Less: Treasury stock (2,500 shares) at cost (use a negative sign with your answer) Answer (5,000) Total Stockholders' Equity Answer 0