Perry Corporation was established on January 1, Year 1 when it issued 20,000 shares of $50 par, 5 percent, cumulative preferred stock and 30,000 shares of $10 par value common stock. The company's earnings history is as follows: The corporation paid the maximum amount of dividends possible in each year of operation. The dividend paid to preferred stockholders at the end of Year 2 is zero. $70,000. $100,000. $50,000. Crowe Company began operations on January 1, Year 1. The company was organized as a sole proprietorship. During Year 1, Crowe acquired $40,000 of capital from John Crowe, the owner. Also, during Year 1 the company earned net income of $20,000 and John Crowe withdrew $15,000 from the business. Based on this information, the Company would show $45,000 in its capital account on the Year 1 balance sheet. $25,000 in its capital account on the Year 1 balance sheet. $40,000 in its capital account on the Year 1 balance sheet. $5,000 in its capital account on the Year 1 balance sheet