The following accounts and their balances appear in the general ledger of NEWBERRY PROPERTIES INC. on June 30, 2017: 

Preferred stock, 2%, $75 par...........................................1,350,000 

Paid-in capital in excess of par...........................................$108,000 

Paid-in capital from sale of treasury stock.................................................................$12,000 

Retained earnings.......................................................................................................2,950,000 

Treasury stock...................................................................................................70,000 

Prepare the stockholders' equity section of the balance sheet as of June 30. 40,000 shares of common stock were used and 875,000 shares were repurchased.