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Nance Corporations December 31, 2017 balance sheet showed the following: 6% preferred stock, $20 par...

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Accounting

Nance Corporations December 31, 2017 balance sheet showed the following:

6% preferred stock, $20 par value, cumulative,

30,000 shares authorized; 20,000 shares issued $ 400,000

Common stock, $10 par value, 3,000,000 shares authorized;

1,950,000 shares issued, 1,920,000 shares outstanding 19,500,000

Paid-in capital in excess of par value preferred stock 60,000

Paid-in capital in excess of par value common stock 28,000,000

Retained earnings 9,650,000

Treasury stock (30,000 shares) 630,000

Nances total stockholders equity was

$47,330,000.

$56,980,000.

$58,240,000.

$57,610.

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