The balance sheet of Kangaroo Company as of December 31 is presented below: Assets Cash Marketable Securities 2019 P 45,000 60,000 60,000 70,000 300,000 |(45,000) P490,000 2020 P 60,000 85,000 80,000 100,000 Accounts Receivable (net) Inventory Property, Plant and Equipment Accumulated Depreciation 300,000 (80,000) P545,000 Total Assets Liabilities and Shareholder's Equity Accounts Payable Short-term Notes Payable Bonds Payable Ordinary Shares Retained Earnings Total Liabilities and Shareholder's Equity 35,000 50,000 85,000 200,000 120,000 P490,000 45,000 50,000 75,000 225,000 150,000 P545,000 Ordinary shares have par value of P5.00 per share. In April 1, 2020, the Kangaroo Company issued additional shares as part of its funding plan.

Definition Definition Type of stock which is granted priority over dividend distributions as compared to common stockholders. Preferred stocks also do not carry any voting rights. Notably, in a case where a company is going to be liquidated, preferred stockholders have a priority claim on the value of assets of the company as quoted in the balance sheet, as compared to the common stockholders.