As of December 31, 20., the balances of the stockholders' equity accounts of Higbie Auto Inc. were as follows: Common stock, 56 par (30,000 shares authorized, 13,000 shares issued) Paid-in capital in excess of par-common stock $17,000 Common treasury stock (2,000 shares at $6 per share) Preferred stock, 5%, $12 par (16,000 shares authorized, 5,000 shares issued) Paid in capital in excess of par-preferred stock $6,000 Preferred stock subscribed (2,000 shares) Retained earnings $48,000 Required: Based on this information, prepare the stockholders' equity section of the Higbie Auto Inc. balance sheet as of December 31, 20- Higbie Auto Inc. Balance Sheet (partial) December 31, 20- As of December 31, 20-, the balances of the stockholders' equity accounts of Higbie Auto Inc. were as follows: Common stock, $6 par (30,000 shares authorized, 13,000 shares issued) Paid-in capital in excess of par-common stock $17,000 Common treasury stock (2,000 shares at $6 per share) Preferred stock, 5%, 512 par (16,000 shares authorized, 5,000 shares issued) Paid-in capital in excess of par-preferred stock $6,000 Preferred stock subscribed (2,000 shares) Retained earnings $48,000 Required: Based on this information, prepare the stockholders' equity section of the Higbie Auto Inc balance sheet as of December 31, 20- Higbie Auto Inc. Balance Sheet (partial) December 31, 20- Paid-in capital: Preferred stock, 5%, $12 par Less: Preferred stock subscriptions receivable 78,000 $ 102,000 Less: Common stock subscriptions receivable Additional paid-in capital: Paid-in capital in excess of par preferred stock 6,000 Paid in capital in excess of par common stock 17,000 23,000 Total paid-in capital Retained earnings 18,000