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The following stockholders equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on...

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Accounting

The following stockholders equity accounts, arranged alphabetically, are in the ledger of Telex Inc. on December 31, 2017.

Common Stock ($20 par value) $900,000

Paid-in Capital in Excess of Par Value-Common Stock 190,000

Preferred Stock (10%, $50 par) 100,000

Paid-in Capital in Excess of Par-Preferred Stock 10,000

Paid in Capital from Treasury Stock 2,000

Retained Earnings 350,000

Treasury Stock (600 common shares) 27,000

Instructions

Prepare the stockholders equity section of the balance sheet on December 31, 2017.

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