The following information was taken from the accounting records of the Arens Corporation on December 31, 2019. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet.
Preferred Stock: 8%, $100 par value; 2,000 shares authorized; 600 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Preferred Stock, $2,000
Common Stock: $50 par value; 5,000 shares authorized; 2,250 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $2,500
Retained Earnings: Total, $155,000; appropriated for office building construction, $50,000

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The Answer of The following information was taken from the accounting records of the Arens Corporation on December 31, 2019. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet.
Preferred Stock: 8%, $100 par value; 2,000 shares authorized; 600 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Preferred Stock, $2,000
Common Stock: $50 par value; 5,000 shares authorized; 2,250 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $2,500
Retained Earnings: Total, $155,000; appropriated for office building construction, $50,000

The Following Information Was Taken from the Accounting Records of the Arens