Prepare the December 31, 2020, stockholders' equity section. Assume 2020 net income was $672.000. (Enter account name only Do not provide any descriptive information.) PEARL COMPANY Stockholders' Equity $ eTextbook and Media Pearl Company reported the following amounts in the stockholders equity section of its December 31, 2019, balance sheet. Preferred stock 13% $ 100 par (100,000 shares authorized, 23,000 shares issued) $2,300,000 Common stock. $ 1 par (1.000.000 shares authorized, 311.000 shares issued) 311.000 Additional paid-in capital common Retained earnings 1.390,000 Total $4,970,000 969,000 During 2020. Pearl took part in the following transactions concerning stockholders' equity. 1. Paid the annual 2019 dividend on preferred stock and a 50.50 per share dividend on common stock. These dividends had been declared on December 31, 2019. 2 Purchased 900 shares of its own outstanding common stock for S8 per share. Pearl uses the cost method. Reissued 200 treasury shares for land with an appraised value of $ 10,400. Pearl's common shares were trading for $8.50 3 per share Issued 47.000 shares of common stock at $9 per share. Declared and recorded a 21. stock split on the outstanding common stock when the stock is selling for $ 10 per share. Declared the areal 2020 dividend on preferred stock and the $0.50 per share dividend on common stock. These dividends are payable in 2021 6 NO. Account tes and explanation Dent CREME 1. 2 3. 5