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Renner Corporation's December 31, 20XX balance sheet showed the following: 8% preferred stock, $20 par value, cumulative, 20,000 shares authorized; 15,000 shares issued $ 300,000 Paid-in capital in excess of par value – preferred stock $ 60,000 Common stock, $10 par value, 2,000,000 shares authorized; 1,950,000 shares issued, 1,930,000 shares outstanding $ 19,500,000 Paid-in capital in excess of par value – common stock $ 27,000,000 Retained Earnings $ 7,650,000 Treasury stock (20,000 shares) $ 630,000 Renner's total stockholders' equity is:

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Answer:

Renner's total stockholders' equity is  $53,880,000

Explanation:

Renner's total stockholders' equity is the sum of all funds attributable to the company finance providers minus the treasury stock as detailed below:

Renner's balance sheet extract:

Common stock $10 par value 2,000,000 authorized,1950,000 issued and 1,930,000 outstanding                                                            $19,500,000

Preferred stock $20 par value                                                     $300,000

Paid in capital in excess of par -common stock                   $27,000,000

paid in capital in excess of par-preferred stock                           $60,000

total paid in capital                                                                    $46,860,000

Retained earnings                                                                       $7,650,000

Treasury stock                                                                            ($630,000)

total stockholders' equity                                                          53,880,000  

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