The following information was taken from the accounting records of the Gemini Corporation on December 31, 2019. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet.
Preferred Stock: 10%, $100 par value; 5,000 shares authorized; 1,200 shares issued and outstanding Paid-in Capital in Excess of Par Value-Preferred Stock, $4,000
Common Stock: $50 par value; 10,000 shares authorized; 4,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $5,000
Retained Earnings: Total, $105,000; appropriated for warehouse construction, $40,000

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The Answer of The following information was taken from the accounting records of the Gemini Corporation on December 31, 2019. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet.
Preferred Stock: 10%, $100 par value; 5,000 shares authorized; 1,200 shares issued and outstanding Paid-in Capital in Excess of Par Value-Preferred Stock, $4,000
Common Stock: $50 par value; 10,000 shares authorized; 4,500 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $5,000
Retained Earnings: Total, $105,000; appropriated for warehouse construction, $40,000

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