DP TB Problem Qu. 11-238 (Algo) Knapp Industries began business on January... Knapp Industries began business on January 1,2021 by issuing all of its 1,750,000 authorized shares of its $1 par value common stock for $34 per share. On June 30 , Knapp declared a cash dividend of $2.25 per share to stockholders of record on July 31 . Knapp paid the cash dividend on August 30 . On November 1 , Knapp reacquired 350,000 of its own shares of stock for $39 per share. On December 22, Knapp resold 175,000 of these shares for $45 per share. Required: a. Prepare the stockholders' equity section of the balance sheet as of December 31,2021 assuming that the net income for the year was $10,000,000. If applicable, record any additional paid-in capital into one account. Complete this question by entering your answers in the table below. Prepare the stockholders' equity section of the balance sheet as of December 31,2021 assuming that the net income for the year was $10,000,000