Exercise 15-18 (Part Level Submission) Blue Company reported the following amounts in the stockholders' equity section of its December 31, 2019, balance sheet. Preferred stock, 9%, $100 par (10,000 shares authorized, 1,800 shares issued) $180,000 Common stock, $5 par (96,000 shares authorized, 19,200 shares issued) 96,000 Additional paid-in capital 113,000 Retained earnings 449,000 Total $838,000 During 2020, Blue took part in the following transactions concerning stockholders' equity. 1. Pald the annual 2019 59 per share dividend on preferred stock and a $2 per share dividend on common stock. These dividends had beer declared on December 31, 2019. 2. Purchased 1,800 shares of its own outstanding common stock for $42 per share. Blue uses the cost method. 3. Reissued 800 treasury shares for land valued at $34,500. 4. Issued 460 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 $49 per share. 6. Issued the stock dividend. 7. Declared the annual 2020 $9 per share dividend on preferred stock and the $2 per share dividend on common stock. These dividends ar payable in 2021 Prepare the December 31, 2020, stockholders' equity section. Assume 2020 net income was $327,000- provide any descriptive information.) BLUE COMPANY Stockholders' Equity For the Yer Ended December 31, 2020 Property, Plant and Equipment Preferred Stock $ Common Stock 7 Total Capital Stock Additional Paid-in Capital Total Paid in Capital Retained Earnings Total Pald-in Capital and Retained Earnings Less: Treasury Stock Total Stockholders Equity $ Click if you would like to Show Work for this question: Open Show Work