Maria Martinez organized Manhattan Transport Company in January $2021.$ The corporation immediately issued at $$8$ per share one$-$

half of its $200,000$ authorized shares of $$2$ par value common stock. On January $2,2022,$ the corporation sold at par value the entire

$5,000$ authorized shares of $8$ percent, $$100$ par value cumulative preferred stock. On January $2,2023,$ the company again needed

capital and issued $5,000$ shares of an authorized $10,000$ shares of no$-$par cumulative preferred stock for a total of $$512,000.$ The no$-$

par shares have a stated dividend of $$9$ per share.

The company declared no dividends in $2021$ and $2022.$ At the end of $2022,$ its retained earnings were $$170,000.$ During $2023$ and

$2024$ combined, the company earned a total of $$890,000.$ Dividends of $50$ cents per share in $2023$ and $$1\mathrm{.}60$ per share in $2024$ were

paid on the common stock.

Required:

a$.$ Prepare the stockholders' equity section of the balance sheet at December $31,2024.$