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In Potter Corporation's first year of business, the following transactions affected its equity accounts. Issued 4,400 shares of $2 par value common stock for $22. It authorized 20,000 shares. Issued 1,100 shares of 12%, $10 par value preferred stock for $27. It authorized 3,000 shares. Reacquired 220 shares of common stock for $34 each. Retained earnings is impacted by reported net income of $54,000 and cash dividends of $17,000. Prepare the stockholders' equity section of Potter's balance sheet as of December 31. (Amounts to be deducted should be indicated by a minus sign.) POTTER CORPORATION Stockholders' Equity Section of th Balance Sheet December 31 Preferred stock$10 par value $ 11,000 29,690 8,800 Paid-in capital in excess of par value, preferred stock Common stock-$2 par value Paid-in capital in excess of par value, common stock Retained earnings Less: Cost of treasury stock Total stockholders' equity 96,798 37,000 7,480: 190,768 $