Gym Expert Company began operations during 2016. The company has been authorized to sell 950,000 shares of $9 par value common stock and 175,000 shares of $10 par, 6 percent preferred stock. During the year, the company had the following selected transactions Mar 1: Issued 5,700 shares of common stock in exchange for $15,000 and a truck with a market value of $36,300. t lasued 4.000 shares of comman stock for $36.000 Apr Aug Issued 6,000 shares of common stock for $57.000 Sep 6: Issued 1,500 shares of prefermred stock for $50,000. Oct 22 Purchased 600 shares of its common stock for $11 per share. Nov : Declared a $4,000 dividend to e naird on December 15 Dec 15: Paid the dividend shares of treasury stock for $14 per share- Dec 21: Sold 5 Requirement. Prepare the stockholders' equity section of the balance sheet r f net income during the year. In addition to the dividends paid on December 15, $1,000 of more dividends were declared prior to year-end; and these dividends were paid during the first December 31, 2016, assuming $106.000 month of naxt yoar Stockholders Equity Paid-in capital Tatal stockholders equity