Kingbird, Inc. reported the following balances at December 31, 2018: common stock $396,000, paid-in capital in excess of par valuecommon stock $110,000, and retained earnings $256,000. During 2019, the following transactions affected stockholders' equity.

1.		Issued preferred stock with a par value of $127,000 for $201,000.
2.		Purchased treasury stock (common) for $43,500.
3.		Earned net income of $144,500.
4.		Declared and paid cash dividends of $56,000.

Prepare the stockholders equity section of Kingbird, Inc.s December 31, 2019, balance sheet.

Kingbird, Inc. Balance Sheet (Partial) December 31, 2019 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 396000 Preferred Stock 127000 Total Capital Stock 523000 Additional Paid-in Capital Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Total Additional Paid-in Capital Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity $