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, 090 shares of common stock for $35 per share. February 6 Issues 3,090 shares of 8% preferred stock for $11 per share. September 10 Purchases 11,090 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.) FINISHING TOUCHES Balance Sheet (Stockholders' Equity Section) December 31, 2024 Stockholders' equity: Total paid-in capital 0 Total stockholders' equity