Exercise 14-10 Dirk Company reported the following balances at December 31, 2016: common stock $409,000, paid-in capital in excess of par value-common stock $109,000, and retained earnings $244,000. During 2017, the following transactions affected stockholders' equity. 1. Issued preferred stock with a par value of $125,000 for $191,000 2. Purchased treasury stock (common) for $36,500. 3. Earned net income of $138,000. 4. Declared and paid cash dividends of $52,000. Prepare the stockholders' equity section of Dirk Company's December 31, 2017, balance sheet DIRK COMPANY Balance Sheet (Partial) Stockholders Equity Capital Stock Preferred Steck Commen Stock Total Capital Stock Paid-in Capital in Excess of Par Preferred Stock