The following is a summary of all relevant transactions of Vicario Corporation since it was organized in 2025. In 2025, 15,000 shares were authorized and 7,000 shares of common stock ($50 par value) were issued at a price of $57. In 2026, 1,000 shares were issued as a stock dividend when the stock was selling for $60. Three hundred shares of common stock were bought in 2027 at a cost of $64 per share. These 300 shares are still in the company treasury.

In 2026, 10,000 preferred shares were authorized and the company issued 5,000 of them ($100 par value) at $113. Some of the preferred stock was reacquired by the company and later reissued for $4,700 more than it cost the company.

The corporation has earned a total of $610,000 in net income after income taxes and paid out a total of $312,600 in cash dividends since incorporation.

Instructions

Prepare the stockholders’ equity section of the balance sheet in proper form for Vicario Corporation as of December 31, 2027. Account for treasury stock using the cost method.