Question 20. (ten points) Prepare the stockholders' equity section of a company's balance sheet as of November 30, 2021, which is the end of the company's first year in business. The company name is Digby Trading Co., Inc. There are four stockholders, each of whom bought 25% of the company's common stock when the company was started. The company was authorized to issue 3,000 shares of noncumulative preferred stock with a par value of $10.00 per share. It issued 1,000 shares for $23.00 each. The preferred stock has a dividend rate of 12% of the par value. The company was authorized to issue 20,000 shares of common stock at $2.00 par value per share. It actually issued 4,000 shares for $18.00 per share. > Page 10 of 16 Search business. The company name is Digby Trading Co., Inc. There are four stockholders, each of whom bought 25% of the company's common stock when the company was started. The company was authorized to issue 3,000 shares of noncumulative preferred stock with a par value of $10.00 per share. It issued 1,000 shares for $23.00 each. The preferred stock has a dividend rate of 12% of the par valde. The company was authorized to issue 20,000 shares of common stock at $2.00 par value per share. It actually issued 4,000 shares for $18.00 per share. During the last month of its fiscal year, the company reacquired 200 shares of common stock for $30.00 each, but did not cancel or retire the shares it reacquired. Incidentally, each of the stockholders sold 50 shares back to the company, thereby preserving each stockholder's 25% ownership of common stock. The company earned $50,000 of net income during the fiscal year, and paid $15,000 in dividends to its stockholders