Palmaro Corporation has been authorized to issue 20,600 shares of $101 par value, 10%, noncumulative preferred stock and 1,126,950 shares of no-par...

Palmaro Corporation has been authorized to issue 20,600 shares of $101 par value, 10%, noncumulative preferred stock and 1,126,950 shares of no-par common stock. The corporation assigned a $2.75 stated value to the common stock. At December 31, 2010, the ledger contained the following balances pertaining to stockholders' equity.