Question

United Apparel has the following balances in its stockholders' equity accounts on December 31, 2021: Treasury Stock, $850,000; Common Stock, $600,000; Preferred Stock, $3,600,000; Retained Earnings, $2,200,000; and Additional Paid-in Capital, $8,800,000.

Required:
Prepare the stockholders' equity section of the balance sheet for United Apparel as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)

Answer 1

The answer is $14,350,000

Step-by-step explanation:

UNITED CAPITAL

BALANCE SHEET

(STOCKHOLDERS' EQUITY SECTION)

DECEMBER 31, 2021

Preferred Stock $3,600,000

Common Stock. $600,000

Additional Paid-in Capital $8,800,000

Total Paid-in Capital. $13,000,000

Retained Earnings $2,200,000

Treasury Stock,. -$850,000

Total Stockholders'equity $14,350,000