R: Long history, the state, unitary rational, anarchic, conflictual interests, power and survival, military is important, policy is to balance, morality is irrelevant
L: recent history, States and MANY MORE, rational but not unitary, anarchic vs merging community, shared and conflictual interests, goals range, military less important, policy is collective security, morality is VITAL
finance Dirk Company reported the following balances at December 31, 2016: common stock $500,000, paid-in capital in excess of par value—common stock$100,000, and retained earnings $250,000. During 2017, the following transactions affected stockholders’ equity.
1. Issued preferred stock with a par value of$125,000 for $200,000.
2. Purchased treasury stock (common) for$40,000.
3. Earned net income of $180,000.
4. Declared and paid cash dividends of$56,000.
Prepare the stockholders’ equity section of Dirk Company’s December 31, 2017, balance sheet.