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, $12 par value, 99,900 shares authorized Preferred stock, $46 par value, 8 percent, 60,200 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,200 shares of common stock at $24 cash per share. b. Sold 20,800 shares of preferred stock at $71 cash per share. c. Repurchased 4,900 shares of common stock for $13 cash per share. Required: Net income for the year was $91,600; cash dividends declared and paid at year-end were $32,000. 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