es Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $23 per share. February 6 Issues 1,800 shares of 8% preferred stock for $12 per share.. September 18 Purchases 10,000 shares of its own connon stock for $28 per share. December 15 Resells 5,000 shares of treasury stock at $33 per share. In its first year of operations, Finishing Touches has net income of $148,000 and pays dividends at the end of the year of $95,000 ($1 per share) on all common shares outstanding and $1,440 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity: Preferred stock Common stock Additional paid-in capital Additional paid-in capital Total paid-in capital Treasury stock Retained eamings Treasury stock $ 18,000 100,000 2.200,000 25,000 2.343,000 25,000 51,560 (140,000)