Question

Spiral Corporation's December 31, balance sheet shows the following: 8% preferred stock,

$10 par value, cumulative,
40,000 shares authorized; 18,000 shares issued, $180,000 Common stock, $1 par value,
4,000,000 shares authorized; 2,500,000 shares issued,
2,460,000 shares outstanding,
$2,500,000 Paid-in capital in excess of par value – preferred stock, $180,000 Paid-in capital in excess of par value – common stock, $52,000,000 Retained earnings,
$24,000,000 Treasury stock (40,000 shares)-$1,250,000
The company's total stockholders' equity is:

Answer 1

The company's total stockholders' equity is $77,610,000.

Step-by-step explanation:

Total Stockholders' Equity

= $180,000 + $2,500,000 + $180,000 + $24,000,000 + $52,000,000 - $1,250,000

= $77,610,000

Therefore, The company's total stockholders' equity is $77,610,000.