5 Ret Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $15 per share, February 6 Issues 1,000 shares of 74 preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $20 per share. December 15 Resells 6,000 shares of treasury stock at $25 per share. In its first year of operations, Finishing Touches has net income of $140,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $700 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) Answer is complete but not entirely correct. FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity: 100,000 10,000 Common stock Preferred stock Additional paid-in capital Additional paid-in capital Total paid-in capital Retained earnings Treasury stock 000 00 14,000,000 63,000 14,173,000 45,300 90,000