Sandhill Company has two classes of capital stock outstanding: 7%, $100 par preferred and $2 par common. At December 31, 2017, the following accounts were included in stockholders' equity. Preferred Stock, 40,000 shares Common stock. 800.000 shares Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Par - Common Stock Retained Earnings $4,000,000 1,600,000 240,000 19,200,000 12,900,000 The following transactions affected stockholders' equity during 2018. Jan. 1 - 500 shares of preferred stock issued at $108 per share. Mar. 21 - 104,000 shares of common stock issued at $41 per share. June 1 - 2-for-1 common stock split (par value reduced to $1). July 15 - 80,000 shares of common treasury stock purchased at $28 per share. Sandhill uses the cost method. Sept. 4 - 10,000 shares of treasury stock reissued at $34 per share. Dec. 31 - The preferred dividend is declared, and a common dividend of 77 per share is declared. Dec. 31 - Net income is $4,519,000. Prepare the stockholders' equity section for Hatch Company at December 31, 2018. Prepare the stockholders' equity section for Hatch Company at December 31, 2018. SANDHILL COMPANY Stockholders' Equity December 31, 2018 $