Sheffield 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, 50,000 shares$ 5,000,000

Common stock, 1,200,000 shares2,400,000

Paid-in Capital in Excess of Par Preferred Stock300,000

Paid-in Capital in Excess of Par Common Stock28,800,000

Retained Earnings12,800,000

The following transactions affected stockholders equity during 2018.

Jan. 1-500 shares of preferred stock issued at $ 108 per share.

Mar. 21-110,000 shares of common stock issued at $ 40 per share.

June 1-2-for-1 common stock split (par value reduced to $1).

July 15-77,000 shares of common treasury stock purchased at $ 32 per share. Sheffield uses the cost method.

Sept. 4-9,000 shares of treasury stock reissued at $ 38 per share.

Dec. 31-The preferred dividend is declared, and a common dividend of 68 per share is declared.

Dec. 31-Net income is $ 4,587,000.

Prepare the stockholders equity section for Hatch Company at December 31, 2018.

SHEFFIELD COMPANY Stockholders Equity December 31, 2018