Finishing Touches has two classes of stock authorized: 7%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2015, its first year of operations: January2 February 6 September 10 December 15 Issues 100,000 shares of common stock for $21 per share. Issues 1,600 shares of 7% preferred stock for $13 per share. Repurchases 12,000 shares of its own common stock for $26 per share. Reissues 6,000 shares of treasury stock at $31 per share. In its first year of operations, Finishing Touches has net income of $146,000 and pays dividends at the end of the year of $94,000 ($1 per share) on all common shares outstanding and $1,120 on all preferred shares outstanding Required Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2015. (Amounts to be deducted should be indicated by a minus sign.) FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2015 Stockholders' equity: Common stock Preferred stock Additional paid-in capital 100,000 16,000 2,030,000 Total paid-in capital 2,146,000 Total stockholders' equity $ 2,146,000