Quick Fix-it Corporation was organized in January 2014 to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following capital stock: Common stock, $19 par value, 99,300 shares Preferred stock, $48 par value, 8 percent, 60.400 shares During January and February 2014, the following stock transactions were completed: Sold 78,500 shares of common stock at $38 per share and collected cash. Sold 21,800 shares of preferred stock at $60 per share; collected the cash and immediately issued the stock. Bought 4,200 shares of common stock from a current stockholder for $24 per share. Required: Net income for 2014 was $91,700; cash dividends declared and paid at year-end were $30,800. Prepare the stockholders' equity section of the balance sheet at December 31, 2014. (Amounts to be deducted should be indicated with a minus sign.) QUICK FIX-IT CORPORATION Balance Sheet (Partial) At December 31, 2014 Stockholders' equity: Contributed capital: Preferred stock $ 1,046,400 Capital in excess of par, preferred stock 261,600 Common stock 1,491,500 Capital in excess of par, common stock 1,727,000 Total contributed capital 4,526,500 Retained earnings 60,900 Total contributed capital and retained earnings 4,587,400 Total stockholder's equity $ 4,587,400 Read text indicates no response was expected in a cell or a formula-based calculations is incorrect; no points deducted