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, 99,200 shares authorized Preferred stock, $48 par value, 8 percent, 60,400 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 79,300 shares of common stock at $24 cash per share. b. Sold 20,500 shares of preferred stock at $70 cash per share. c. Bought 4,900 shares of common stock from a current stockholder for $27 cash per share. Required: Net income for the year was $92,000; cash dividends declared and paid at year-end were $31,800. 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-IT CORPORATION Balance Sheet (Partial) At December 31, This year Stockholders' equity: Contributed Capital: Additional paid-in capital, common Preferred stock Additional paid-in capital, preferred 0 Total contributed capital Retained earnings 0 Total contributed capital and retained earnings Treasury stock Total stockholders' equity $ 0