In Draco Corporation's first year of business, the following transactions affected its equity accounts. Issued 5,400 shares of $2 par value common stock for $32. It authorized 20,000 shares. Issued 1,350 shares of 12%, $10 par value preferred stock for $37. It authorized 3,000 shares. Reacquired 270 shares of common stock for $44 each. Retained earnings is impacted by reported net income of $64,000 and cash dividends of $22,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.) DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet Preferred stock-$10 par value December 31 Paid-in capital in excess of par value, preferred stock Common stock-$2 par value Paid-in capital in excess of par value, common stock Retained earnings Less: Cost of treasury stock Total stockholders' equity $ 0