in Draco Corporation's first year of business, the following transactions affected its equity accounts: Issued 7,400 shares of $2 par value common stock for $52. It authorized 20,000 shares. Issued 1,850 shares of 12%, $10 par value preferred stock for $57. It authorized 3,000 shares. Reacquired 370 shares of common stock for $64 each. Retained earnings is impacted by reported net income of $84,000 and cash dividends of $32,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted sho by a minus sign.) DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Preferred stock-$10 par value 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 earings Less: Cost of treasury stock Total stockholders' equity $ 0