Kathleen's Company sells custom-fit dresses made out of recycled materials. Her company has gotten so popular recently that she even sold a dress to Kendall Jenner. Kathleen's Company received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent, $11 par value, 21,500 shares authorized Common stock: $9 par value, 51,800 shares authorized During the year, the following transactions occurred in the order given: a. Issued 38,200 shares of the common stock for $13 per share. b. Sold 7,500 shares of the preferred stock for $17 per share. c. Sold 4,200 shares of the common stock for $16 per share and 1,100 shares of the preferred stock for $27 per share. d. Net income for the year was $60,000. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Stockholders' equity: Contributed capital: Total contributed capital WITT CORPORATION Balance Sheet (Partial) At December 31, This Year 0 Total stockholders' equity $ 0