Concord Corporation is authorized to issue25,000shares of $50par value,10% preferred stock and125,000shares of $5par value common stock. On January 1, 2020, the ledger contained the following stockholders' equity balances.

Preferred Stock (11,000shares) $550,000

Paid-in Capital in Excess of ParPreferred Stock 68,000

Common Stock(63,000shares) 315,000

Paid-in Capital in Excess of ParCommon Stock 750,000

Retained Earnings 320,000

During 2020, the following transactions occurred.

Feb.1 Issued2,200shares of preferred stock for land having a fair value of $128,000.

Mar.1 Issued1,200shares of preferred stock for cash at $70per share.

July1 Issued15,000shares of common stock for cash at $8per share.

Sept.1 Issued450shares of preferred stock for a patent. The asking price of the patent was $28,000. Market price for the preferred stock was $67and the fair value for the patent was indeterminable.

Dec.1 Issued8,000shares of common stock for cash at $8.50per share.

Dec.31 Net income for the year was $259,000. No dividends were declared.

how do I Prepare stockholders' equity section at December 31, 2020.?

CONCORDCORPORATION

Balance Sheet (Partial)