Finishing Touches has two classes of stock authorized: 8%,$10 par preferred, and $1 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 $34 per share. February 6 issues 2,900 shares of 8% preferred stock for $12 per share. September 10 Purchases 10,000 shares of its own common stock for $39 per share. December 15 Reissues 5,000 shares of treasury stock at $44 per share. In its first year of operations, Finishing Touches has net income of $159,000 and pays dividends at the end of the year of $95,000 ( $1 per share) on all common shares outstanding and $2,320 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.)