Daniel Tandy Company reported the following balances at December 31,2019 :common stock $505,000; paid -in capital in excess of par-common stock $210,000; retained earnings $380,000. During 2020 , the following transactions atfected stockholder's equity. 1. Issued preferred stock with a par value of $200,000 for $230,000 2. Purchased treasury stock (common) for $74,000. 3. Earned net income of $255,000. 4. Declared and paid cash dividends of $79,000($15,410 preferred). (a) Prepare the stockholders' equity section of Daniel Tandy Company's Deceriber 31,2020 balance sheet Show the allocation of dividends to each class of stock, assuming the preferred stock dividend is 895 and cumulative