The following information was taken from the accounting records of the Goodens Corporation on December 31, 2019. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet.
Preferred Stock: 10%, $200 par value; 10,000 shares authorized; 2,400 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Preferred Stock, $8,000
Common Stock: $100 par value; 20,000 shares authorized; 9,000 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $10,000
Retained Earnings: Total, $210,000; appropriated for factory construction, $80,000

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The Answer of The following information was taken from the accounting records of the Goodens Corporation on December 31, 2019. Using this information, prepare the Stockholders' Equity section of the corporation's balance sheet.
Preferred Stock: 10%, $200 par value; 10,000 shares authorized; 2,400 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Preferred Stock, $8,000
Common Stock: $100 par value; 20,000 shares authorized; 9,000 shares issued and outstanding; Paid-in Capital in Excess of Par Value-Common Stock, $10,000
Retained Earnings: Total, $210,000; appropriated for factory construction, $80,000

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