. Issued 6,800 shares of $2 par value common stock for $46. It authorized 20,000 shares. Issued 1,700 shares of 12%, $10 par value preferred stock for $51. It authorized 3,000 shares. Reacquired 340 shares of common stock for $58 each. Retained earnings is impacted by reported net income of $78,000 and cash dividends of $29,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be de by a minus sign.) 13,600 DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 Common stock-$2 par value Paid-in capital in excess of par value, common stock Preferred stock-$10 par value Paid-in capital in excess of par value, preferred stock Retained earnings Less: Cost of treasury stock Total stockholders' equity 17,000 49,000 $ 79,600