Finishing Touches has two classes of stock authorized: 9%, $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 $22 per share.

February 6 Issues 1,700 shares of 9% preferred stock for $11 per share.

September 10 Repurchases 11,000 shares of its own common stock for $27 per share.

December 15 Reissues 5,500 shares of treasury stock at $32 per share. In its first year of operations,

Finishing Touches has net income of $147,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $1,530 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.)