III. Stockholders' equity section of the balance sheet (20 points) The following is a summary of all relevant transactions of Lawson Corporation since it was organized in 2019. In 2019, 15,000 shares were authorized and 7,000 shares of common stock ($20 par value) were issued at a price of $46. Three hundred shares of common stock were bought in 2021 at a cost of $52 per share. These 300 shares are still in the company treasury. In 2020, 10,000 preferred shares were authorized and the company issued 5,000 of them ($100 par value) at $111. The corporate has earned a total of $610,000 in net income after taxes and paid out a total of $215,000 in cash dividends since incorporation. Instructions Prepare the stockholders' equity section of the balance sheet in proper form for Lawson Corporate as of December 31, 2021. Account for treasury stock using the cost method