Exercise 15-18 Cheyenne Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 10%, $100 par (10,000 shares authorized, 2,000 shares issued) $200,000 Common stock, $5 par (108,000 shares authorized, 21,600 shares issued) 108,000 Additional paid-in capital 119,000 Retained earnings 419,000 Total $846,000 During 2020, Cheyenne took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 $10 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2. Purchased 1,700 shares of its own outstanding common stock for $41 per share. Cheyenne uses the cost method. 3. Reissued 600 treasury shares for land valued at $27,800. 4. Issued 480 shares of preferred stock at $104 per share. 5. Declared a 10% stock dividend on the outstanding common stock when the stock is selling for $42 per share. 6. Issued the stock dividend. 7. Declared the annual 2020 $10 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends are payable in 2021. 1. 2. 3. 4. 5. 6. 7. Prepare the December 31, 2020, stockholders' equity section. Assume 2020 net income was $323,000. (Enter account name only.Do not provide any descriptive information.) CHEYENNE COMPANY Stockholders' Equity A - - - Click if you would like to Show Work for this question: Open Show Work