Angel Corporation was organized on January 1, 2020. Information related to the corporation equity section...
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Angel Corporation was organized on January 1, 2020. Information related to the corporation equity section is listed below. Authorized stock: 80,000 shares of $10 par value common stock 50,000 shares of 5%, $50 par value, noncumulative preferred stock Issued stock: 50,000 shares of common stock at an average issue price of $15 12,000 shares of preferred stock at an average issue price of $68 Retained Earnings as of December 31, 2020: $62,000 Using this information, prepare the stockholders' equity section for the balance sheet of Angel Corporation on December 31, 2020
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