Common stock, $7 par value, 106,000 shares authorized Preferred stock, 14 percent, par value $8 per share, 5,100 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 20,800 shares of common stock at $16 cash per share. b. Sold and issued 2,600 shares of preferred stock at $20 cash per share. c. At the end of the year, the accounts showed net income of $42,000. No dividends were declared. Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the year. TANDY, INCORPORATED Balance Sheet (Partial) At December 31, this year Stockholders' equity: Contributed capital: Total contributed capital Total stockholders' equity