(b) Prepare the current year stockholders' equity section of the balance sheet assuming that the company reports net income of $72,500 for the year. Use a negative sign with your answer for treasury stock Stockholders' Equity Paid in capital 8 Preferred stock, 521 par value 50,000 shares authorized 5,000 shares issued and outstanding 3 Comman stock, 55 par value, 350,000 shares authorized 190.000 shares issued Additional paid in capital Paid in capital in excess of par value preferred stock Pald-in capital in excess of par value common stock Paid in capital from treasury stock Total paid-in capital Retained earnings Less Treasury stack 12.500 shares) at cost use a negative sign with your answer) Tatal Stockholders' Equity (b) Prepare the current year stockholders' equity section of the balance sheet assuming that the company reports net income of $72,500 for the year. Use a negative sign with your answer for treasury stock Stockholders' Equity Paid in capital 8 Preferred stock, 521 par value 50,000 shares authorized 5,000 shares issued and outstanding 3 Comman stock, 55 par value, 350,000 shares authorized 190.000 shares issued Additional paid in capital Paid in capital in excess of par value preferred stock Pald-in capital in excess of par value common stock Paid in capital from treasury stock Total paid-in capital Retained earnings Less Treasury stack 12.500 shares) at cost use a negative sign with your answer) Tatal Stockholders' Equity