hapter 11 Homework 3 North Wind Aviation received its charter during January authorizing the following capital stock Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given: a Issued a total of 32,000 shares of the common stock for $12 per share. c Issued 2,200 shares of the common stock at $17 per share and 1,000 shares of the preferred stocka eBook b. Issued 10,000 shares of the preferred stock at $13 per share. d. Net income for the first year was $40,000, but no dividends were declared. Required: Prepare the stockholders' equity section of the balance sheet at December 31. TH WIND AVIATION Balance Sheet (Partial) 31 Stockholders" Equity Contributed Capital: K Prex 3 of 9 Next FT F4 https rnewconnect.nubatio ekboard myBama D Netfix Admissions/Schol... apter 11 Homework GmailUniversity of Alab.... D HB0 Ga Saved d. Net income for the first year was $40,000, but no dividends were declared. 3 Required: Prepare the stockholders' equity section of the balance sheet at December 31. NORTH WIND AVIATION Balance Sheet (Partial) At December 31 Stockholders' Equity oints eBook Contributed Capital: Print Total Contributed Capital Total Stockholders' Equity 20 F3 F4 F6