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In Draco Corporation's first year of business, the following transactions affected its equity accounts Issued 7,000 shares of $2 par value common stock for $48.

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In Draco Corporation's first year of business, the following transactions affected its equity accounts Issued 7,000 shares of $2 par value common stock for $48. It authorized 20.000 shares Issued 1750 shares of 12%, $10 par value preferred stock for $53. It authorized 3,000 shares Reacquired 350 shares of common stock for $60 each. Retained earnings is impacted by reported net income of $80.000 and cash dividends of $30.000 points 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.) Swipped DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Total stockholders' equilty

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