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Exercise 11-20 The following accounts appear in the ledger of Sheffield Corp. after the books...

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Accounting

Exercise 11-20

The following accounts appear in the ledger of Sheffield Corp. after the books are closed at December 31, 2019:

Common Stock, no par, $3 stated value, 387,000 shares authorized; 275,000 shares issued $ 825,000
Common Stock Dividends Distributable 31,000
Paid-in Capital in Excess of Stated ValueCommon Stock 1,300,000
Preferred Stock, $6 par value, 8%, 35,000 shares authorized; 26,700 shares issued 160,200
Retained Earnings 839,000
Treasury Stock (10,200 common shares) 81,600
Paid-in Capital in Excess of ParPreferred Stock 340,000
Accumulated Other Comprehensive Loss 31,500

Prepare the stockholders equity section at December 31, 2019, assuming retained earnings is restricted for plant expansion in the amount of $116,000. For capital stock first enter the preferred stock details. (Enter account name only and do not provide descriptive information.)

Sheffield Corp. Balance Sheet (Partial)

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