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, $13 par value, 98,700 shares authorized Preferred stock, $45 par value, 8 percent, 59,800 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,200 shares of common stock at $26 cash per share. b. Sold 21,700 shares of preferred stock at $71 cash per share. c. Bought 5,300 shares of common stock from a current stockholder for $11 cash per share. Required: Net income for the year was $90,600; cash dividends declared and paid at year-end were $31,100. Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.)