Problem 15-3 Your answer is partially correct. Try again. Sunland Company has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2017, the following accounts were included stockholders' equity. Preferred Stock, 152,800 shares Common Stock, 1,998,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings $ 3,056,000 9,990,000 200,000 26,724,000 4,571,000 The following transactions affected stockholders' equity during 2018. Jan. 1 Feb. 1 June 1 July 1 Sept. 15 Dec. 31 Dec. 31 27,600 shares of preferred stock issued at $24 per share. 51,100 shares of common stock issued at $20 per share. 2-for-1 stock split (par value reduced to $2.50). 27,400 shares of common treasury stock purchased at $10 per share. Sunland uses the cost method. 9,400 shares of treasury stock reissued at $11 per share The preferred dividend is declared, and a common dividend of 55 per share is declared. Net income is $2,076,000. Prepare the stockholders' equity section for Sunland Company at December 31, 2018. (Enter account name only and do not provide descriptive information.)