Prom Night Formal Wear has the following stockholders' equity accounts at December 31, 2012: Common Stock, $1 par value, 2,000,000 shares; Additional Paid-in Capital, $22 million; Retained Earnings, $15 million; and Treasury Stock, 50,000 shares, $1.25 million. Prepare the stockholders' equity section of the balance sheet.

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The Answer of Prom Night Formal Wear has the following stockholders' equity accounts at December 31, 2012: Common Stock, $1 par value, 2,000,000 shares; Additional Paid-in Capital, $22 million; Retained Earnings, $15 million; and Treasury Stock, 50,000 shares, $1.25 million. Prepare the stockholders' equity section of the balance sheet.

Prom Night Formal Wear Has the Following Stockholders' Equity Accounts