## Answers

WILDHORSE COMPANY Partial Balance Sheet December 31, 2017 | ||

Stockholders’ equity | ||

Paid-in capital | ||

Capital stock | ||

Preferred stock | 12168000 | |

Common stock | 9625000 | |

Total capital stock | 21793000 | |

Additional paid-in capital | ||

Paid in capital in excess of par value -preferred stock | 585000 | |

Paid in capital in excess of par value -common stock | 1910000 | |

Total additional paid-in capital | 2495000 | |

Total paid-in capital | 24288000 | |

Retained earnings | 2573570 | |

Total paid-in capital and retained earnings | 26861570 | |

Less: Treasury stock | (205200) | |

Total stockholders’ equity | $26656370 |

Preferred stock = 117000*104 = 12168000

In excess of par value -preferred stock = 117000*(109-104) = 585000

Retained earnings = 1295000+3587000-((1375000-17100)*1.70) = 2573570

Treasury stock = 17100*12 = 205200

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