Morgan Company reported the following balances at December 31.2020: common stock $500,000: paid-in capital in excess of par value $100,000: retained earnings $350,000. During 2021, the following transactions affected stockholders equity 1. Issued preferred stock with a par value of $150,000 for $200.000. 2. Purchased treasury stock (common) for $50,000. 3 Earned net income of $140,000 4. Declared and paid cash dividends of $75,000 Prepare the stockholders equity section of Morgan Company's December 31, 2021. balance sheet MORGAN COMPANY Balance Sheet (Partial) December 31, 2021 Stockholders' Equity