18 On January 1, 2021, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 246,000 shares issued Paid-in capital-excess of par, common Paid-in capital-excess of par, preferred Preferred stock, $100 par, 17,000 shares outstanding Retained earnings Treasury stock, at cost, 4,600 shares $ 246,000 492,000 170,000 1,700,000 3,400,000 23,000 During 2021, Fascom Inc. had several transactions relating to common stock. January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $11.4 per share, fair value $9.70 per share). February 17: Distributed the property dividend. April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. (Fascom chose to reduce Paid-in capital-excess of par.) The fair value of the stock was $4 on this date. July 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Fascom's balance sheet as of December 31, 2021. Assume net income is $460,000 for 2021. (Negative amounts should be entered with a minus sign.) 246,000 FASCOM Balance Sheet (Partial) December 31, 2021 Shareholders' equity Preferred stock Common stock Paid-in capital - excess of par, preferred Paid-in capital - excess of par, common Retained earnings Treasury stock (23,000) Total shareholders' equity 5 223.000