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For the year ended December 31, 2019, the following stockholders’ equity accounts are found in the general ledger of Despacito Corporation, Inc.
Common Stock ($5 par value) $1,700,000
Paid-in capital in excess of preferred shares 280,000
Paid-in capital in excess of common shares 900,000
Preferred shares (8%, 100 par, not accumulated) 500,000
Retained earnings 1,134,000
Shares in Portfolio (10,000 common shares) 120,000
Prepare the total stockholders’ equity section of the Balance Sheet. This includes total paid-in capital and retained earnings.
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