Dirk Company reported the following balances at December 31, 2013: common stock $408,200; paid-in capital in excess of par valuecommon stock $104,080; and retained earnings $257,690. During 2014, the following transactions affected stockholders equity.

1.		Issued preferred stock with a par value of $125,370 for $195,450.
2.		Purchased treasury stock (common) for $42,930.
3.		Earned net income of $142,070.
4.		Declared and paid cash dividends of $55,890.

Prepare the stockholders equity section of Dirk Companys December 31, 2014, balance sheet.

DIRK COMPANY Balance Sheet (Partial) December 31, 2014