The following information pertains to Leapfrog Academy at December 31, 2019:
Retained Earnings$52,000
Treasury Stock, at cost (500 shares)1,500
Paid-in Capital from Treasury Stock Transactions900
Common Stock, $1 par, 10,000 shares authorized, 4,500 shares issued4,500
Paid-in Capital in Excess of Par--Common Stock9,000
Cash Dividends Payable--Common Stock6,000
Prepare the stockholders' equity section of the balance sheet at December 31, 2019.
What will be an ideal response?
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