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    Assignment Steps
    Resources:Financial Accounting: Tools for Business Decision MakingCh. 11
    Answerthe following questions in 1050 words using the LachlinCorporation Balance Sheet located below instructions:
    Usethe Week 4Excelspreadsheet andsubmitwith your answers.
    Stockholders’ equity
    Paid-in capital
    – Preferred stock cumulative 10000 shares authorized
    6000 shares issued and outstanding $ 600000
    – Common stock no par 750000 shares authorized 58000
    shares issued $2900000
    – Total paid in Capital $3500000
    – Retained Earnings $1158000
    – Total paid-in capital and retained earnings $4658.000
    – Less: Treasury stock ( 6000 common shares) $ 32000
    Total stockholders’ equity $4626000

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