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, $17 par value, 98,600 shares authorized Preferred stock, $46 par value, 8 percent, 60,000 shares authorized During January and February of this year, the following stock transactions were completed: ok a. Sold 78,700 shares of common stock at $34 cash per share. ht nces b. Sold 21,300 shares of preferred stock at $70 cash per share. c. Repurchased 5,700 shares of common stock for $30 cash per share. Required: Net income for the year was $91,600; cash dividends declared and paid at year-end were $31,500. 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.