Lucas Company was issued a charter by the state of Indiana on January $15$ of this year. The charter authorized the following:

Common stock, $$10$ par value, $103,000$ shares authorized

Preferred stock, $9$ percent, par value $$8$ per share, $4,000$ shares authorized

During the year, the following transactions took place in the order presented:

a$.$ Sold and issued $20,000$ shares of common stock at $$16$ cash per share.

b$.$ Sold and issued $3,000$ shares of preferred stock at $$20$ cash per share.

c$.$ At the end of the year, the company reported net income of $$60,000.$ No dividends were declared.

Required:

Prepare the stockholders' equity section of the balance sheet at the end of the year.