8. Value 0.30 points Inside Incorporated was issued a charter on January 15 authorizing the following capital stock: per Preferred stock. 7 percent, par value $10 per share, 5.000 shares, nonvoting. The following selected transactions were completed during the first year of operations in the order given: a. Issued 11,000 shares of the S6 par common stock at S14 cash per share b. Issued 2,100 shares of preferred stock at $18 cash per share c. At the end of the year, the accounts showed net income of $29.000 Required: 1. Prepare the stockholders equity section of the balance sheet at December 31 INSIDE INCORPORATED Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital Total Contributed Capital Total Stockholders' Equity 2. Assume that you are a common stockholder of Inside Incorporated. If the company needed additional capital and maintaining your current level of voting control was important, would you prefer to have it issue additional common stock or additional preferred stock? Additional Common Stock Additional Preferred Stock