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(Solved): Help me fill missing spots, please.  The Clothing Cove has two classes of stock authorized: \( ...



The Clothing Cove has two classes of stock authorized: \( 9 \%, \$ 10 \) par preferred, and \( \$ 1 \) par value common. The Help me fill missing spots, please. 

The Clothing Cove has two classes of stock authorized: \( 9 \%, \$ 10 \) par preferred, and \( \$ 1 \) par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100 ,000 shares of common stock for \( \$ 26 \) per share. February 6 Issues 2,100 shares of \( 9 \% \) preferred stock for \( \$ 11 \) per share. September 10 Purchases 11,000 shares of its own cormon stock for \( \$ 31 \) per share. December 15 Resells 5,500 shares of treasury stock at \( \$ 36 \) per share. In its first year of operations, The Clothing Cove has net income of \( \$ 151,000 \) and pays dividends at the end of the year of \( \$ 94,500 \) ( \( \$ 1 \) per sharel on all common shares outstanding and \( \$ 1,890 \) on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for The Clothing Cove as of December 31,2024 . (Amounts to be deducted should be indicated by a minus sign.) Answer is complete but not entirely correct.


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Calculations of common stock and preferred stock to be shown in stockholders'equity section: Issued 100,000 common shares Issue price = $26 Par value
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