Exercise 12-2 Stockholders' Equity The accounts and balances that follow are from Hastings Corporation's records...

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Preferred Stock, $100 par value, 9 percent cumulative, 10,000 shares authorized, 6,000 shares issued and outstanding	$600,000
Common Stock, $12 par value, 45,000 shares authorized, 30,000 shares issued, and 28,500 shares outstanding	360,000
Additional Paid-in Capital	194,000
Retained Earnings	23,000
Treasury Stock, Common (1,500 shares, at cost)	30,000

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