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, $15 par value, 99,500 shares authorized Preferred stock, $43 par value, 8 percent, 60,500 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,900 shares of common stock at $30 cash per share. b. Sold 20,200 shares of preferred stock at $67 cash per share. c. Bought 5,000 shares of common stock from a current stockholder for $25 cash per share. Required: Net income for the year was $90,800; cash dividends declared and paid at year-end were $30,900. Prepare the stockholders' equity section of the balance sheet at the end of the year.