Current Attempt in Progress Sarasota Company was formed on July 1, 2018. It was authorized to issue 289,500 shares of $10 par value common stock and 95,600 shares of 7% $25 par value, cumulative and nonparticipating preferred stock. Sarasota Company has a July 1 - June 30 fiscal year. The following information relates to the stockholders' equity accounts of Sarasota Company Common Stock Prior to the 2020-2021 fiscal year, Sarasota Company had 106,000 shares of outstanding common stock issued as follows. 1 83.300 shares were issued for cash on July 1, 2018 at $31 per share. 2 On July 24, 2018.5,000 shares were exchanged for a plot of land which cost the seller $71,800 in 2012 and had an estimated fair value of $209,200 on July 24, 2018. 3. 17.700 shares were issued on March 1, 2019. for $44 per share. During the 2020-2021 fiscal year, the following transactions regarding common stock took place. November 30.2020 Sarasota purchased 1.800 shares of its own stock on the open market at $36 per share. Sarasota uses the cost method for treasury stock. December 15, 2020 Sarasota declared a 5% stock dividend for stockholders of record on January 15, 2021. to be issued on January 31, 2021. Sarasota was having a liquidity problem and could not afford a cash dividend at the time. Sarasota's common stock was selling at $54 per share on December 15, 2020. June 20.2021 Sarasota sold 470 shares of its own common stock that it had purchased on November 30, 2020, for $21,000 Preferred Stock Sarasota issued 38,900 shares of preferred stock at $40 per share on July 1. 2019. Cash Dividends Sarasota has followed a schedule of declaring cash dividends in December and June with payment being made to stockholders of record in the following month. The cash dividends which have been declared since inception of the company through June 30, 2021, are shown below. Cash Dividends Sarasota has followed a schedule of declaring cash dividends in December and June, with payment being made to stockholders of record in the following month The cash dividends which have been declared since inception of the company through June 30, 2021 are shown below. Declaration Date Common Stock Preferred Stock 12/15/19 50.30 per share Si per share 6 15 20 50.30 per share 51 per share 12 15 20 Si per share No cash dividends were declared during June 2021 due to the company's liquidity problems. Retained Earnings As of June 30.2020. Sarasota's retained earnings account had a balance of $656,400. For the fiscal year ending June 30, 2021. Sarasota reported net income of $40.300. Prepare the stockholders equity section of the balance sheet for Sarasota Company as of June 30, 2021. as it should appear in its annual report to the shareholders. (Enter account name only and do not provide descriptive information.) SARASOTA COMPANY Stockholders' Equity For the Year Ended June 30, 2021 Capital Stock Preferred Stod Common Stock Total Capital Stock Capital Stock Paidin Capitalin Excess of Par Preferred Stock SARASOTA COMPANY Stockholders' Equity For the Year Ended June 30, 2021 Capital Stock Preferred Stock $ Common Stock Total Capital Stock Capital Stock Paid-in Capital in Excess of Par-Preferred Stock $ Pad-in Capital in Excess of Dar - Common Stock Paid-in Capital from Treasury Stock Total Paid-in Capital Retained Earning Total Paid in Capital and Retained Earnings Treasury Stock Tota toshaders Equity