E11-9 (Algo) Determining the Effects of Transactions on Stockholders' Equity LO11-1, 11-3, 11-7, 11-8 o 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. $20 par value, 99,400 shares authorized Preferred stock, $44 par value, 8 percent, 60,800 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 79,200 shares of common stock at $40 cash per share. b. Sold 20,300 shares of preferred stock at $67 cash per share. c. Bought 4,500 shares of common stock from a current stockholder for $10 cash per share. Required: Net income for the year was $91,200; cash dividends declared and paid at year-end were $31,600. 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.)