Prepare a stockholders' equity section
When Haven Corporation was incorporated in 2016,authorization was obtained to issue 200,000 shares of $5 par value common stock and 6,000 shares of 8% cumulative preferred stock.The preferred stock has a par value of $100.All the preferred stock was issued at $107 per share,and 110,000 shares of the common stock were sold for $9 per share.The operations of the company resulted in a net loss of $19,000 in 2016 and net income of $125,000 in 2017.In 2018,net income was $352,000,and the cash position was sufficient to allow the board of directors to declare a cash dividend of $1 per share to the common shareholders,as well as satisfy all preferred stock dividend requirements.
Complete in good form the stockholders' equity section of Haven Corporation's balance sheet at December 31,2018.(Hint: First determine the total amount of dividends declared in 2018. )

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When Haven Corporation was incorporated in 2016,authorization was obtained to issue 200,000 shares of $5 par value common stock and 6,000 shares of 8% cumulative preferred stock.The preferred stock has a par value of $100.All the preferred stock was issued at $107 per share,and 110,000 shares of the common stock were sold for $9 per share.The operations of the company resulted in a net loss of $19,000 in 2016 and net income of $125,000 in 2017.In 2018,net income was $352,000,and the cash position was sufficient to allow the board of directors to declare a cash dividend of $1 per share to the common shareholders,as well as satisfy all preferred stock dividend requirements.
Complete in good form the stockholders' equity section of Haven Corporation's balance sheet at December 31,2018.(Hint: First determine the total amount of dividends declared in 2018. )

Prepare a Stockholders' Equity Section