Problem 11-3A ,] Your answer is partially correct. Try again. On December 31, 2016, Cullumber Company had 1,345,000 shares of $6 par common stock issued and outstanding. At December 31, 2016, stockholders' equity had the amounts listed here. Common Stock Additional Paid-in Cap Retained Earnings $8,070,000 1,800,000 1,215,000 Transactions during 2017 and other information related to stockholders' equity accounts were as follows. 1, on January 10, 2017, issued at $111 per share 118,000 shares of $103 par value, 10% cumulative preferred stock. 2. On February 8, 2017, reacquired 12,800 shares of its common stock for $15 per share 3. On May 9, 2017, declared the yearly cash dividend on preferred stock, payable June 10, 2017, to stockholders of record on May 31, 2017 4. On June 8, 2017, declared a cash dividend of $1.40 per share on the common stock outstanding, payable on July 10, 2017, to stockholders of record on July 1, 2017. 5. Net income for the year was $3,591,000 Prepare the stockholders' equity section of Cullumber balance sheet at December 31, 2017 CULLUMBER COMPANY Partial Balance Sheet December 31, 2017 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock 12154000 Common Stock 8,070,000 Total Capital Stock 20224000 Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Preferred Stock 708000 Paid-in Capital in Excess of Par Value-Common Stock 1,800,000 Total Additional Paid-in Capital 2390000 Total Paid-in Capital Retained Earnings Total Pald-in Capital and Retained Earnings Less Treasury Stock Total Stockholders' Equity