Chapter 20, Problem 5SEA

STOCKHOLDERS’ EQUITY SECTION After closing its books on December 31, Pro Parts’ stockholders’ equity accounts had the following balances:

Common stock subscriptions receivable	$ 5,000
Common stock, $5 par, 12,000 shares	60,000
Preferred stock, $10 par, 4%, 4,000 shares	40,000
Common stock subscribed, $5 par, 3,000 shares	15,000
Paid-in capital in excess of par-common stock	4,000
Retained earnings	35,000

Prepare the stockholders’ equity section of the balance sheet.