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Problems: Problem 1. [05 Marks When Digital Communications, Inc., was formed, the company was authorized to issue 5,000 shares of Rs.100 par, 8 percent cumulative preferred stock, and 100,000 shares of Rs.2 stated value common stock. Half of the preferred stock was issued at a price of Rs.103 per share, and 70,000 shares of the common stock were sold for Rs.13 per share. At the end of the current year, it has retained earnings of Rs.475,000. Required: Prepare the stockholders' equity section of the company's balance sheet at the end of the current year