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Exercise 15-17 Nash Corporation's post-closing trial balance at December 31, 2017, is shown as follows. NASH CORPORATION POST-CLOSING TRIAL BALANCE...

Exercise 15-17

Nash Corporation's post-closing trial balance at December 31, 2017, is shown as follows.


NASH CORPORATION

POST-CLOSING TRIAL BALANCE

DECEMBER 31, 2017

Dr.

Cr.

Accounts payable$ 330,700Accounts receivable$ 487,000Accumulated depreciation—buildings185,000Additional paid-in capital in excess  of par—common1,239,000  From treasury stock165,000Allowance for doubtful accounts30,000Bonds payable288,000Buildings1,469,000Cash200,000Common stock ($1 par)213,000Dividends payable (preferred stock—cash)4,300Inventory568,000Land385,000Preferred stock ($50 par)550,000Prepaid expenses40,000Retained earnings318,000Treasury stock (common at cost)174,000    Totals$3,323,000$3,323,000

At December 31, 2017, Nash had the following number of common and preferred shares.


Common

Preferred

Authorized639,00066,000Issued213,00011,000Outstanding204,00011,000

The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share.


Prepare the stockholders' equity section of Nash's balance sheet at December 31, 2017. (Enter account name only and do not provide descriptive information.)

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