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  3. in draco corporation's first year of business, the

In Draco Corporation's first year of business, the following transactions affected its equity accounts. -...

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Accounting

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In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 5,600 shares of $2 par value common stock for $34. It authorized 20,000 shares. - Issued 1,400 shares of 12%,$10 par value preferred stock for $39. It authorized 3,000 shares. - Reacquired 280 shares of common stock for $46 each. - Retained earnings is impacted by reported net income of $66,000 and cash dividends of $23,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. Note: Amounts to be deducted should be indicated by a minus sign

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