during its fre 16-10 Shareh O16.3 year of operation, 2016 olders' Equity Herrera Manufacturing Corporation completed the following transactions 1. The state authorized the issuance of 30,000 shares of S5 par common stock; 15,000 shares were issued a $2 per share. 2. The state authorized the issuance of 6,000 shares of S50 par preferred stock. All 6,000 shares were issucd $70 per share. 3. Herrera reacquired 1,000 shares of its outstanding common stock at $18 per share. The cost method is uwed to account for treasury stock. 4. Herrera invested $50,000 of excess cash, not needed to finance operations, in long-term available-for-salk equity securities. At year-end, the market value of these securities was $47,500. 5. Herrera sold 500 shares of treasury stock for $23 per share 6. Net income for the first year of operations was $16,000. No dividends were declared. Required: Prepare the sharcholders' equity section (and any related notes to the financial statements) of Herrera's bliang sheet as of December 31, 2016