Requirement 2. Prepare the Halborn's stockholders' equity section of the balance sheet as of December 31, 2016. Assume that Halborn was authorized to issue 1,500 shares of preferred stock and 300,000 shares of common stock. Both preferred stock and common stock were issued at par. The ending balance of retained earnings as of December 31, 2016, is $1,050,000. (Use parentheses or a minus sign for amounts to be subtracted.)