Question - Stockholders' Equity Section of Balance Sheet
The following accounts and their balances appear in the ledger of Cline Properties Inc. on April 30 of the current year:
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Common Stock, $15 par
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$166,500
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Paid-In Capital in Excess of Par
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13,320
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Paid-In Capital from Sale of Treasury Stock
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7,200
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Retained Earnings
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275,000
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Treasury Stock
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10,355
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Prepare the Stockholders' Equity section of the balance sheet as of April 30. Fifty thousand shares of common stock are authorized, and 545 shares have been reacquired.