E11-9 (Algo) Determining the Effects of Transactions on Stockholders' Equity LO11-1, 11-3, 11-7, 11-8 Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock. $19 par value, 98,300 shares authorized Preferred stock. $42 par value, 8 percent, 59,100 shares authorized During January and February of this year, the following stock transactions were completed. a. Sold 79,800 shares of common stock at $38 cash per share b. Sold 20,700 shares of preferred stock at $66 cash per share c. Bought 4,500 shares of common stock from a current stockholder for $26 cash per share Required: Net income for the year was $90,100; cash dividends declared and paid at year-end were $31,200. Prepare the stockholders' equity section of the balance sheet at the end of the year (Amounts to be deducted should be indicated with a minus sign.) QUICK FIX IT CORPORATION Balance Sheet (Partial) At Decum 31. This year Stockholders' equity Contributed capital Common stock 3 Additional paid in capital, common stock Preferred stock Aditional paid in capital, preferred stock 1.516,200 1,516,200 669 400 496,000 4398,600 Total contributed capital Retained earnings S 4398 600 Total contributed capital and retained earrings Treasury stock Total stockholders' equity