balance sheet

Balance of accounts at the beginning of the year for Nisa Corporation is as follows: Common Stock (1 million shares issued at $10 par: $10,000,000 Pald in Capital in Excess of par. Common Stock 515 15,000,000 Preferred Stock (30,000 shares issued at $50 par) 1,500,000 Paid in Capital in Excess of par - Preferred: 600,000 Treasury Stock (16,000 shares @10) 160,000 During the year the following transactions took place 1. Reacquired and retired 25,000 common shares for $600,000 cash 2. Reissued 10,000 retired shares for $26 per share. Additional information: Preferred shares authorized 120,000 shares Authorized 6,000,000 common shares. Retained Earnings at the beginning of the year was $2,700,000. Net Income for the year was $520,000 of which 40% was paid in dividends. Required: Use all the information given above to prepare the Equity section of the Balance Sheet at the end of the year