(Answered) Exercise - prepare the stockholders equity section summit

Accounting

Exercise - Prepare the stockholders equity section

Summit Apparel has the following accounts at December 31: Common Stock, $1 par value, 1,500,000 shares issued: Paid-in Capital, $16.50 million; Retained Earnings, $9.50 million; and Treasury Stock, 45,000 shares, $0.990 million.

Required - Prepare the stockholders' equity section of the balance sheet.

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