The Following Selected Information Is Available for Lindale Corp Given the Above Information, Prepare the Stockholders' Equity Section of December

question 40

Essay

The following selected information is available for Lindale Corp.,as of December 31,2X13:

$\begin{array}{lr}\text { Additional Paid-in Capital, Common}&\$ 1,050,000 \\\text { Additional Paid-in Capital, Preferred}&150,000\\\text { Common Stock, \$1 par, 1,000,000 shares authorized, }\\\text { 480,000 shares issued}&?\\\text { Dividends Payable } & 280,000 \\\text { Long-term Investment in the Broomfield Company } & 400,000 \\\text { Marketable Securities } & 60,000 \\\text { Retained Earnings } & 1,800,000 \\\text { Treasury Stock, Common, 20,000 shares } & 500,000\\\text { 10 \% Cumulative Preferred Stock, \$25 par, callable}\\\text { at \$ 28 ; 200,000 shares authorized, 100,000}\\\text { shares issued and outstanding}&?\\\end{array}$
Given the above information, prepare the stockholders' equity section of the Lindale Corp.'s balance sheet dated December 31, 2X13.

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Definitions:

Management Ability

The competence or skillset required to control, direct, and administer resources, tasks, or people effectively in an organizational setup.

Benevolence

The quality of being well-meaning; kindness.

Integrity

The quality of being honest and having strong moral principles; moral uprightness.

Direct Leader

A leadership style that involves straightforward management and communication with subordinates.