hice Courm #64: Try Beaut Things . The R Chapter 11 Homework Homework Shelby Corporation was organized in state authorized the following capital stock: January to operate an air-conditioning sales and service business. The charter issued by the Common stock, $1 par value, 200,000 shares. Proferred stoek, $10 par value, 6 percent, 50,000 shares During January and February, the following stock transactions were completed: a. Collected $841,000 cash and issued 29,000 shares of common stock. b. Issued 19.500 shares of preferred stock at $39 per share, collected in cash Net income for the year was $59.000; cash dividends declared and paid at year-end were $10.000 Required: Prepare the tockholders' equity section of the balance sheet at December 3t SHELBY CORPORATION Balance Sheet (Partial) Stockholders Equity Contributed Capital: Total Contributed Capital Total Stockholders' Equity Prey 1 or9 Next> 6 4. 3 2