In Draco Corporation's first year of business, the following transactions affected its equity accounts Issued 5,800 shares of $2 par value common stock for $36. It authorized 20,000 shares. Issued 1,450 shares of 12%, $10 par value preferred stock for $41. It authorized 3,000 shares Reacquired 290 shares of common stock for $48 each Retained earnings is impacted by reported net income of $68,000 and cash dividends of $24,000 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.) X Answer is not complete. 14,500 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 earnings Less Cost of treasury stock Total stockholders' equity $ 11,600 26,100