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, $20 par value, 98,500 shares authorized Preferred stock, $50 par value, 8 percent, 59,600 shares authorized During January and February of this year, the following stock transactions were completed a. Sold 78,500 shares of common stock at $40 cash per share b. Sold 20,800 shares of preferred stock at $72 cash per share c. Bought 4,900 shares of common stock from a current stockholder for $14 cash per share Required Net income for the year was $90,400; cash dividends declared and paid at year-end were $30,800. 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.) QUICK FIX-IT CORPORATION Balance Sheet (Partial) At December 31, This year Stockholders' equity: Contributed Capital Preferred stock Common stock Additional paid-in capital, preferred Additional paid-in capital, common Treasury stock Total contributed capital Retained earnings Total contributed capital and retained eamings