Sage Corporation's post-closing trial balance at December 31, 2017, is shown as follows.
POST-CLOSING TRIAL BALANCE
DECEMBER 31, 2017
Accounts payable$ 166,200Accounts receivable$ 503,000Accumulated depreciation—buildings181,000Additional paid-in capital in excess of par—common1,318,000 From treasury stock175,000Allowance for doubtful accounts30,000Bonds payable322,000Buildings1,344,000Cash194,000Common stock ($1 par)180,000Dividends payable (preferred stock—cash)3,800Inventory535,000Land361,000Preferred stock ($50 par)500,000Prepaid expenses37,000Retained earnings279,000Treasury stock (common at cost)181,000 Totals$3,155,000$3,155,000
At December 31, 2017, Sage had the following number of common and preferred shares.
The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share.
the stockholders' equity section of Sage's balance sheet at December 31, 2017?
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