Problem 11-2A (Part Level Submission) The stockholders' equity accounts of Blue Spruce Corp. on January 1, 2017, were as follows. Preferred Stock (7%, $100 par noncumulative, 4,100 shares authorized) $246,000 Common Stock ($5 stated value, 295,000 shares authorized) 1,229,166 Pald-in Capital in Excess of Par Value --Preferred Stock 12,300 Pald-in Capital in Excess of Stated Value --Common Stock 472,000 Retained Earnings 685,500 Treasury Stock (4,100 common shares) 32,800 During 2017, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 4,750 shares of common stock for $28,500. Purchased 1,200 additional shares of common treasury stock at $7 per share. Oct. Declared a 7% cash dividend on preferred stock, payable November 1. Nov. Paid the dividend declared on October 1. Dec. Declared a $0.85 per share cash dividend to common stockholders of record on December 15, 1 payable December 31, 2017. Determined that net income for the year was $276,500. Paid the dividend declared on December 31 Mar. 20 1 1 Dec. 1. (c) Prepare the stockholders' equity section of the balance sheet at December 31, 2017. BLUE SPRUCE CORP. Partial Balance Sheet + Click if you would like to Show Work for this question: Open Show Work