Answer:
The preparation is shown below:
Explanation:
Goodale Properties Inc.
Stockholders' Equity
June 30, 20XX
Common Stock, $15 par (80,000 shares authorized, 39,600 shares issued) $594,000
Add: Paid-In Capital in Excess of Par—Common Stock $
15,840
Add: From sale of Treasury stock $24,400
Total Paid-In Capital $634,240
Add: Retained earnings $932,000
Total $1,566,240
Deduct: Treasury Stock -$12,255
Total Stockholders' Equity $1,553,985
The treasury stock purchased is only deducted and the other items would be added so that the correct value could arrive
