Inside Incorporated was issued a charter on January 15, 2013, that authorized the following capital stock: Common stock, $6 par, 100,000 shares, one vote per share. Preferred stock, 7 percent, par value $10 per share, 5,000 shares, nonvoting. During 2013, the following selected transactions were completed in the order given: a. Issued 19,000 shares of the $6 par common stock at $19 cash per share. b. Issued 2,900 shares of preferred stock at $23 cash per share. c. At the end of 2013, the accounts showed net income of $37,000.

1. Prepare the stockholders equity section of the balance sheet at December 31, 2013.