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, $20 par value, 99,800 shares authorized Preferred stock, $45 par value, 8 percent, 59,300 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,900 shares of common stock at $40 cash per share. b. Sold 20,600 shares of preferred stock at $65 cash per share. c. Bought 4,000 shares of common stock from a current stockholder for $30 cash per share. Required: Net income for the year was $90,500; 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.)