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Focus Foot Company reported the following amounts in the stockholders' equity section of its December 31, 2006, balance sheet.

Focus Foot Company reported the following amounts in the stockholders’ equity section of its December 31, 2006, balance sheet.


Preferred stock, 12%, $100 par (100,000 shares, authorized, 25,000 shares issued) $2,500,000
Common stock, $1 par (1,000,000 shares authorized, 300,000 shares issued) 300,000
Additional paid-in capital 950,000
Retained earnings 1,365,000
Total $5,115,000

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