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North Wind Aviation received its charter during January authorizing the following capital stock:

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Reterences

Preferred stock: $8$ percent. par $$10,$ authorized $20\mathrm{.}000$ shares.

Common stock: par $$1,$ authorized $50\mathrm{.}000$ shares.

The following transactions occurred during the first year of operations in the order given:

a$.$ Issued a total of $33\mathrm{.}000$ shares of the common stock for $$13$ per share.

b$.$ Issued $12000$ shares of the preferred stock at $$14$ per share.

c$.$ Issued $2300$ shares of the common stock at $$18$ per share and $1,200$ shares of the preferred stock at $$14.$

d$.$ Net income for the first year was $$41,000,$ but no dividends were declared.

Required:

Prepare the stockholders equity section of the balance sheet at December $31.$

$\backslash$table$[[$NORTH WIND AVIATION,$],[$Balance Sheet $($Partial$),],[$At December $31,],[$Stockholders$\text{'}$ Equity,$],[$Contributed Capital:,$],[,],[,],[,],[,],[$Total Contributed Cspitial,$],[,],[,],[$Total Stockholders' Equity,$]]$M