Charleston Corporation has the following accounts at December 31: Common Stock $10 par 7000 shares issued $70000; Paid-in Capital in Excess of Par $10000; Retained Earnings $45000; and Treasury Stock-Common 500 shares $10000. Prepare the stockholders' equity section of the balance sheet.

Stockholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the ownership stake of its shareholders.

Treasury Stock

Shares that were issued by a company but have been reacquired and are held in the company's treasury.

Par

The face value of a stock or bond, which is the amount stated on the certificate or instrument itself.