ABC Company was formed on January 12. 2012, with an authorization to issue 12,000 shares of $100 par value 7% preferred stock and 60,000 shares of $5 par, common stock The following stock transactions occured during 2012: Jan. 31 Sold 9.000 shares of common stock for cash at $5 per share. Feb. 18 Sold 1,500 shares of preferred stock for cash at $100 per share. Mar. 15 Sold 2,500 shares of common stock for cash at $6 per share. Mar. 31 Sold 900 shares of preferred stock for cash at $103 per share. Apr. 19 Issued 2,400 shares of common stock in exchange for equipment with a fair market value of $19,500. Jun. 14 Sold 6,000 shares of common stock for cash at $6.25 per share. Jun. 25 Sold 500 shares of preferred stock for cash at $105 per share. Aug, 02 Sold 12,000 shares of common stock for cash at $6.50 per share. Aug, 17 Sold 1,200 shares of preferred stock for cash at $109 per share. Sep. 19 Sold 4,000 shares of common stock for cash at $7.10 per share. Dec. 10 Sold 1,500 shares of preferred stock for cash at $116 per share. Prepare the Stockholder's Equity section of the Balance Sheet as of December 31, 2012 Net income for the year was $72,000 and no dividends were declared which means Retained Earnings has a credit balance of $72,000 as of December 31, 2012