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, $10 par value, 98,000 shares authorized Preferred stock $50 par value. 8 percent, 59,000 shares authorized During Janunty and February of this year, the following stock transactions were completed: a Sold 78,000 shares of common stock at $20 cash per share. D. Sold 20,000 shares of preferred stock at $80 cash per share, c. Bought 4,000 shares of common stock from a current stockholder for $20 cash per share. Required: Net Income for the year was $210,000; cash dividends declared and paid at year-end were $50,000. 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-T CORPORATION Balance Sheet (Partial Al December 31. This Year Stockholdersity Contributed capital Total contributed capital Total contributed capital and retained aming Tuotenuity