Finishing Touches has two classes of stock authorized: 896, $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 Repurchases 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.) FINISHING TOUCHES Balance Sheet Stockholders' Equity Section) December 31, 2018 Stockholders' equity: Common stock Preferred stock Additional paid-in capital Treasury stock 100,000 290,000 3,383.000 390,000 4,163,000 3,673,000 Total paid-in capital Retained earnings Total stockholders' equity $ 7,836,000