Witt Corporation received its charter during January of this year. The charter authorized the following stock:
Preferred stock: percent, $ par value, shares authorized
Common stock: $ par value, shares authorized
During the year, the following transactions occurred in the order given:
a Sold shares of the common stock for $ per share.
b Sold shares of the preferred stock for $ per share.
c Sold shares of the common stock for $ per share and shares of the preferred stock for $ per share.
d Net income for the year was $
Required:
Prepare the stockholders' equity section of the balance sheet at the end of the year.
