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Exercise 11-9
The following stockholders equity accounts, arranged alphabetically, are in the ledger of Culver Corporation at December 31, 2017.
| Common Stock ($4 stated value) | | $2,720,000 |
| Paid-in Capital in Excess of Par ValuePreferred Stock | | 76,500 |
| Paid-in Capital in Excess of Stated ValueCommon Stock | | 1,785,000 |
| Preferred Stock (8%, $100 par, noncumulative) | | 1,020,000 |
| Retained Earnings | | 2,267,800 |
| Treasury Stock (20,400 common shares) | | 122,400 |
Prepare the stockholders equity section of the balance sheet at December 31, 2017.
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