28. Lava Inc. ledger includes the following accounts at December 31, 2006: Treasury Stock, Common $1,000 Preferred Stock $6,000 Common Stock $10,000 Paid-In Capital in Excess of Par Value, Preferred $1,200 Paid-In Capital in Excess of Par Value, Common $3,000 Retained Earnings $6,700 The balance sheet prepared at December 31, 2006, would report total stockholders equity of: a. $15,000 b. $27,900 c. $16,000 d. $25,900 e. None of the above.
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