Dirk Company reported the following balances at December 31, 2016: common stock $409,000, paid-in capital in excess of par valuecommon stock $100,000, and retained earnings $259,000. During 2017, the following transactions affected stockholders' equity.

1.		Issued preferred stock with a par value of $120,000 for $190,000.
2.		Purchased treasury stock (common) for $37,000.
3.		Earned net income of $141,500.
4.		Declared and paid cash dividends of $57,000.

Prepare the stockholders equity section of Dirk Companys December 31, 2017, balance sheet.

(Please keep the same format as the photo.

Fxercisc 14-10 Dirk Company reported the following balances at December 31, 2016: common stock $409,000, paid-in capital in excess of par value-common stock $100,000, and retained earnings $259,000. During 2017, the following transactions affected stockholders' equity 1. Issued preferned stock with a par value of $120,000 for $190,000 2. Purchased treasury stock (common) for $37,000. 3. Earned net income of $141,500. 4. Declared and paid cash dividends of $57,000 trme of $141,5000 Prepare the stockholders' equity section of Dirk Company's December 31, 2017, balance sheet. DIRK COMPANY Balance Sheet (Partial) Capital Stock Common Stock. 409.c00 Paid- in Capital in Eecu ul Par-common stock Total Steckh etsined Earning 93800 Paid-in Capital 57.000 Dvidend Stockholders Equity