Quick Fix-lt 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, $14 par value, 99,600 shares authorized Preferred stock, $43 par value, 8 percent, 59,800 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,600 shares of common stock at $28 cash per share. b. Sold 21,500 shares of preferred stock at $66 cash per share. c. Bought 5,200 shares of common stock from a current stockholder for $18 cash per share. Required: Net income for the year was $90.400; cash dividends declared and paid at year-end were $30,100. 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 Total contributed capital Total contributed capital and retained emings Total stockholders equity