E13-17B (Stockholders? Equity Section) Capital Northeast Corporation?s post-closing trial balance at December 31, 2008, was as follows. ????????????????????????????????????????Capital Northeast Corporation Post-Closing Trial Balance December 31, 2008 $ Accounts payable Accounts receivable Accumulated depreciation?equipment Additional paid-in capital?common In excess of par value From sale of treasury stock Allowance for doubtful accounts Equipment Cash Common stock ($1 par value) Dividends payable on common stock?cash Inventories Investments Preferred stock ($100 par value) Prepaid insurance Retained earnings Treasury stock?common at cost Totals Dr. 605,000 6,800,000 260,000 750,000 2,500,000 65,000 125,000 $11,105,000 $ Cr. 668,000 450,000 1,900,000 35,000 20,000 500,000 50,000 6,500,000 982,000 ??$11,105,000 ????At December 31, 2008, Capital Northeast had the following number of common and preferred shares. ??Authorized Issued Outstanding Common 2,500,000 500,000 490,000 Preferred 1,000,000 65,000 65,000 The dividends on preferred stock are 6% cumulative. In addition, the preferred stock has a preference in liqui- dation of $102 per share. Instructions Prepare the stockholders? equity section of Capital Northeast?s balance sheet at December 31, 2008.