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Question #5 (20 points) Destiney Corporation was organized on January 1, 2022. Information related to the corporation equity section is listed below. Authorized stock: 80,000

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Question \#5 (20 points) Destiney Corporation was organized on January 1, 2022. Information related to the corporation equity section is listed below. Authorized stock: 80,000 shares of $1 par value common stock 50,000sharesof5%,$25parvalue, noncumulative preferred stock Issued stock: 50,000 shares of common stock at an average issue price of $15 12,000 shares of preferred stock at an average issue price of $75 Retained Earnings as of December 31, 2022: $89,000 Using this information, prepare the stockholders' equity section for the balance sheet of Destiney Corporation on December 31, 2022

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