Question 2: Bashundhara Corporation has two classes of capital stock outstanding: 8%, $20 par preferred and $5 par common. At December 31, 2019, the following accounts were included in stockholders' equity. Preferred Stock, 150,000 shares $ 3,000,000 Common Stock, 2,000,000 shares 10,000,000 Paid-in Capital in Excess of Par-Preferred Stock 200,000 Paid-in Capital in Excess of Par-Common Stock 27,000,000 Retained Earnings 4,500,000 The following transactions affected stockholders' equity during 2020. Jan. 1 30,000 shares of preferred stock issued at $22 per share. Feb. 1 50,000 shares of common stock issued at $20 per share. July 1 30,000 shares of common treasury stock purchased at $10 per share. Sept. 15 10,000 shares of treasury stock reissued at $11 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 50c per share is declared. Dec. 31 Net income is $2,000,000. Prepare the stockholders' equity section for Bashundhara Corporation at December 31, 2020. Show all supporting computations. [6 Marks]