Question 11 The stockholders' equity section of Makoto Corporation's balance sheet at December 31, 2020, appears below: Stockholders' equity Paid-in capital Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding Paid-in capital in excess of par Total paid-in capital Retained earnings Total stockholders' equity $2,500,000 1,200,000 3,700,000 600,000 $4,300,000 During 2021, the following stock transactions occurred: Jan. 18 Aug. 20 Issued 50,000 shares of common stock at $32 per share. Purchased 25,000 shares of Makoto Corporation's common stock at $26 per share to be held in the treasury. Reissued 9,000 shares of treasury stock for $28 per share. Nov. 5 Prepare the stockholders' equity section of the balance sheet for Makoto Corporation at December 31, 2021. Assume that net income for the year was $100,000 and that no dividends were declared. (Enter the account name only and do not provide the descriptive information provided in the question.) MAKOTO CORPORATION Balance Sheet (Partial) December 31, 2021 $ $