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Quick Fix-lt Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock, $18 par value, 99,300 shares authorized Preferred stock, $47 par value, 8 percent, 60,000 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,700 shares of common stock at $36 cash per share. b. Sold 21,700 shares of preferred stock at $60 cash per share. c. Repurchased 5,200 shares of common stock for $24 cash per share. Required: Net income for the year was $90,100; cash dividends declared and paid at year-end were $31,300. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. Answer is not complete. QUICK FIX-IT CORPORATION Balance Sheet (Partial) At December 31 Stockholders' equity: Contributed capital: Preferred stock Additional paid-in capital, preferred stock Common stock Additional paid-in capital, common stock Total contributed capital Retained earnings Treasury stock Total stockholders' equity 0 0