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, $18 par value, 98,500 shares authorized Preferred stock, $43 par value, 8 percent, 60,400 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 79,000 shares of common stock at $36 cash per share. b. Sold 20,100 shares of preferred stock at $72 cash per share. c. Bought 5,100 shares of common stock from a current stockholder for $27 cash per share. Required: Net income for the year was $90,300; 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.)