Exercise 10-8 (Algo) Prepare the stockholders' equity section (LO10-7) For Feet's Sake has two classes of stock authorized 8%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 . Issues 160,600 shores of comon stock for $17 pec share. Pebruacy : Issues 1,200 shares of 85 preferred stock for $12 per share. Septenber 10 Purchases 10,000 shores of its oun coneon stock for $22 per share. December 15 Resells 5 , 000 shares of treasury stock ot $27 per shore. In its first year of operations. For Feet's Sake has net income of $142000 and pays dividends ot the end of the year of $95.000 ( $1 per share) on all common shares outstanding and $960 on all preferred shares outstanding. Required: Prepare the stockhoiders' equity section of the balance sneet for For Feers Sake as of December 31,2024. (Amounts to be deducted should be inclicoted by a minus sign.)