Total stockholders' equity 12/31/14 1,288,000 common stock pv $2, authorized 400,000; issued 180,000 at an average issue price of 4.75 balance is retained earnings. during 2015 company issued 5,000 shares for 40,000 company has net income of 77.000 and declared dividends of 40,000 prepare the stockholders' equity section of the balance sheet as it would be presented in a classified balance sheet. pp& e 12/31/14 buildings, net 180,000 land held for speculation 100,000 land 120,000 equipment, net 210,000 accumulated depreciation buildings - 40,000 accumulated depreciation equipment - 140,000 during 2015: equipment (cost 40,000 and accumulated depreciation $22,000) was sold for $17,000 buildings purchased for $40,000 building (cost 50,000 and accumulated depreciation of 10,000) was sold for 70,000 equipment was purchased for 32,000 depreciation expense for 2015 was 50,000 ($6,000 buildings, 44,000 equipment) prepare the property, plant and equipment section of the balance sheet as it would be seen in a classified balance sheet.