The corporate charter of Llano Corporation authorizes the issuance of 25,000 shares of 5% cumulative preferred stock, $50 par, and 200,000 shares of $10 par common stock. At the end of the current year, the titles and balances of stockholders' equity accounts are as follows:

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The Answer of The corporate charter of Llano Corporation authorizes the issuance of 25,000 shares of 5% cumulative preferred stock, $50 par, and 200,000 shares of $10 par common stock. At the end of the current year, the titles and balances of stockholders' equity accounts are as follows:

The Corporate Charter of Llano Corporation Authorizes the Issuance of 25,000