Finishing Touches has two classes of stock authorized: 7%, $10 por preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $33 per share. February 6 Issues 2,800 shares of 7 preferred stock for $13 per share. September 10 Purchases 12,000 shares of its own common stock for $38 per share. December 15 Resells 6,000 shares of treasury stock at $43 per share. In its first year of operations, Finishing Touches has net income of $158,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $1,960 on all preferred shares outstanding, Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.) FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2021 Stockholders' equity Common stock $ Preferred stock Additional paid-in capital 100,000 28.000 3,238.400 Total paid-in capital Retained earings Treasury stock 3,366,400 62,040 (120.000) Total stockholders' equity $ 3,308,440