Quick Fix$-$It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock:

Common stock, $$11$ par value, $98,100$ shares authorized

Preferred stock, $$48$ par value, $8$ percent, $59,300$ shares authorized

During January and February of this year, the following stock transactions were completed:

Sold $79,500$ shares of common stock at $$22$ cash per share.

Sold $20,300$ shares of preferred stock at $$60$ cash per share.

Repurchased $5,400$ shares of common stock for $$26$ cash per share.

Required:

Net income for the year was $$91,500$; cash dividends declared and paid at year$-$end were $$31,900.$ Prepare the stockholders' equity section of the balance sheet at the end of the year.

Note: Amounts to be deducted should be indicated with a minus sign.$\backslash$table$[[$QUICK FIX$-$IT CORPORATION,$],[$At December $31,],[$Stockholders$\text{'}$ equity:,,$],[$Contributed capital:,,$],[,,],[,,],[,,],[,,],[,,],[$Total contributed capital,,$],[,,$$$],[$Total stockholders' equity,,$0]]$