Flint Company was formed on July 1, 2015. It was authorized to issue304,300shares of $10par value common stock and102,900shares of8% $25par value, cumulative and nonparticipating preferred stock. Flint Company has a July 1-June 30 fiscal year.

The following information relates to the stockholders' equity accounts of Flint Company.

Common Stock

Prior to the 2017-2018 fiscal year, Flint Company had113,400shares of outstanding common stock issued as follows.

1.83,400shares were issued for cash on July 1, 2015, at $33per share.2.On July 24, 2015,5,000shares were exchanged for a plot of land which cost the seller $71,300in 2009 and had an estimated fair value of $224,100on July 24, 2015.3.25,000shares were issued on March 1, 2016, for $45per share.

During the 2017-2018 fiscal year, the following transactions regarding common stock took place.

November30,2017Flint purchased2,000shares of its own stock on the open market at $38per share. Flint uses the cost method for treasury stock.December15,2017Flint declared a5% stock dividend for stockholders of record on January 15, 2018, to be issued on January 31, 2018. Flint was having a liquidity problem and could not afford a cash dividend at the time. Flint's common stock was selling at $56per share on December 15, 2017.June20,2018Flint sold460shares of its own common stock that it had purchased on November 30, 2017, for $21,400.

Preferred Stock

Flint issued37,200shares of preferred stock at $43per share on July 1, 2016.

Cash Dividends

Flint has followed a schedule of declaring cash dividends in December and June, with payment being made to stockholders of record in the following month. The cash dividends which have been declared since inception of the company through June 30, 2018, are shown below.

Declaration Date Common Stock Preferred Stock

12/15/16 $0.30per share $1per share

6/15/17 $0.30per share $1per share

12/15/17 $1per share

No cash dividends were declared during June 2018 due to the company's liquidity problems.

Retained Earnings

As of June 30, 2017, Flint's retained earnings account had a balance of $715,600. For the fiscal year ending June 30, 2018, Flint reported net income of $41,800.

Prepare the stockholders' equity section of the balance sheet, for Flint Company as of June 30, 2018, as it should appear in its annual report to the shareholders.