On January 1, 2018, Fascom had the following account balances in its shareholders' equity accounts. Common stock, $1 par, 255,000 shares issued Paid-in capital Paid-in capital excess of par, common excess of par, preferred Preferred stock, $100 par, 12,500 shares outstanding Retained earnings Treasury stock, at cost, 5,500 shares During 2018, Fascom Inc. had several transactions relating to common stock. 255,000 510,000 125,000 1,250,000 2,500,000 27,500 January 15: Declared a property dividend of 100,000 shares of Slowdown Company (book value $10.5 per share, fair value $9.25 per share). February 17: Distributed the property dividend. April 10: A 2-for-1 stock split was declared and distributed on outstanding common stock and effected in the form of a stock dividend. The fair value of the stock was $4 on this date. July 18: Declared and distributed a 3% stock dividend on outstanding common stock. The fair value is $5 per share. December 1: Declared a 50 cents per share cash dividend on the outstanding common shares. December 20: Paid the cash dividend. Required: Without preparing journal entries, prepare the shareholders' equity section of Fascom's balance sheet as of December 31, 2018. Assume net income is $550,000 for 2018. (Negative amounts should be entered with a minus sign.) FASCOM Balance Sheet (Partial) December 31, 2018 Shareholders' equity Preferred stock Common stock Paid-in capital excess of par, preferred Paid-in capital excess of par, common Retained earnings Treasury stock $ 1,250,000 125,000 Total shareholders' equity S 1375.000