Teller Corporation’s post-closing trial balance at December 31, 2010, was as follows. At December 31, 2010, Teller had the following number of common and preferred shares.

The dividends on preferred stock are $4 cumulative. In addition, the preferred stock has a preference in liquidation of $50 per share. Prepare the stockholders equity section of Teller’s balance sheet at December 31, 2010.

(AICPAadapted)