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 $16 per share February 6 issues 1,100 shares of 9% preferred stock for $11 per share September 10 Repurchases 11,000 shares of its own common stock for $21 per share December 15 Reissues 5,500 shares of treasury stock at $26 per share In its first year of operations, Finishing Touches has net income of $141,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $990 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: 1,089 100,000 1,654,000 stock stock Additional paid-in capital Total paid-in capital etained earnings reasury stock 1,755,089 45,510 (176,000) S1,624,599 Total stockholders' equity