The following stockholders’ equity accounts, arranged alphabetically, are in the ledger of Blue Spruce Corp. at December 31, 2017. Common Stock ($2 stated value) $3,120,000
Paid-in Capital in Excess of Par Value—Preferred Stock 87,750
Paid-in Capital in Excess of Stated Value—Common Stock 2,047,500
Preferred Stock (6%, $100 par, noncumulative) 1,170,000
Retained Earnings 2,601,300
Treasury Stock (23,400 common shares) 140,400
Prepare the stockholders’ equity section of the balance sheet at December 31, 2017.

Stockholders’ equity section of the balance sheet at December 31, 2017.

Common Stock :

Common Stock ($2 stated value)                                            $3,120,000

Paid-in Capital in Excess of Stated Value                              $2,047,500

Preferred Stock :

Preferred Stock (6%, $100 par, noncumulative)                     $1,170,000

Paid-in Capital in Excess of Par Value—Preferred Stock          $87,750

Treasury Stock :

Treasury Stock (23,400 common shares)                                $140,400

Retained Earnings                                                                  $2,601,300

Total                                                                                        $9,166,950

Explanation:

The Stockholders’ equity section of the balance sheet at December 31, 2017 has been prepared above for Blue Spruce Corp.

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