Exercise $10-8($Algo$)$ Prepare the stockholders' equity section $($L$010-7)$

For Feet's Sake has two classes of stock authorized: $7\%,$ $$10$ par preferred, and $$1$ par value common. The following transactions affect

stockholders' equity during $2024,$ its first year of operations:

January $2$ Issues $100,000$ shares of common stock for $$30$ per share.

February $6$ Issues $2,500$ shares of $7\%$ preferred stock for $$13$ per share.

September $10$ Purchases $12,000$ shares of its own common stock for $$35$ per share.

December $15$ Resells $6,000$ shares of treasury stock at $$40$ per share.

In its first year of operations, For Feet's Sake has net income of $$155,000$ and pays dividends at the end of the year of $$94,000($ $$1$ per

share$)$ on all common shares outstanding and $$1,750$ on all preferred shares outstanding.

Required:

Prepare the stockholders' equity section of the balance sheet for For Feet's Sake as of December $31,2024.($Amounts to be deducted

should be indicated by a minus sign.$)$