The stockholders’ equity of Southland Corp consists of 100,000 shares of $25 [ar stock, additional paid-in capital of $1,500,000. and retained…

The stockholders’ equity of Southland Corp consists of 100,000 shares of $25 [ar stock, additional paid-in capital of $1,500,000. and retained earnings of $6,440,000. Theodore Rafaelowns 1,000 of the outstanding shares.