The following accounts and their balances appear in the ledger of Newberry Properties Inc. on June 30 of the current year:
Common Stock, $75 par . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,350,000
Paid-In Capital in Excess of Par . . . . . . . . . . . . . . . . . . . . . . . . . . 108,000
Paid-In Capital from Sale of Treasury Stock . . . . . . . . . . . . . . . . . 12,000
Retained Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,950,000
Treasury Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,000
Prepare the Stockholders’ Equity section of the balance sheet as of June 30. Forty thousand shares of common stock are authorized, and 875 shares have been reacquired.