Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations:

January 2		Issues 100,000 shares of common stock for $35 per share.
February 6		Issues 3,000 shares of 8% preferred stock for $11 per share.
September 10		Purchases 11,000 shares of its own common stock for $40 per share.
December 15		Resells 5,500 shares of treasury stock at $45 per share.

In its first year of operations, Finishing Touches has net income of $160,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $2,400 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2024. (Amounts to be deducted should be indicated by a minus sign.)