Finishing Touches has two classes of stock authorized: 8%, exist10 par preferred, and exist1 par value common. The following transactions affect stockholders' equity during 2018, its first year of operations: January 2 Issues 100,000 shares of common stock for exist35 per share February 6 Issues 3,000 shares of 8% preferred stock for exist11 per share. September 10 Repurchases 11,000 shares of its own common stock for exist40 per share December 15 Reissues 5, 500 shares of treasury stock at exist45 per share. In its first year of operations, Finishing Touches has net income of exist160,000 and pays dividends at the end of the year of exist94, 500 (exist1 per share) on all common shares outstanding and exist2, 400 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)