Prom Night Formal Wear has the following stockholders’ equity accounts at December 31, 2015: Common Stock, $1 par value, 2,000,000 shares; Additional Paid-in Capital, $22 million; Retained Earnings, $15 million; and Treasury Stock, 50,000 shares, $1.25 million. Prepare the stockholders’ equity section of the balance sheet.
141. Donnie Hilfiger has the following balances in its stockholders’ equity accounts on December 31, 2015: Treasury Stock, $375,000; Common Stock, $350,000; Preferred Stock, $1,200,000; Retained Earnings, $1,675,000; and Additional Paid-in Capital, $3,150,000. Prepare the stockholders’ equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015.
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