Tandy Company was issued a charter by the state of Indiana on January 15 of this year. The charter authorized the following: Common stock, $8 par value, 106,000 shares authorized Preferred stock, 9 percent, par value $11 per share, 4,300 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 20,300 shares of common stock at $22 cash per share. b. Sold and issued 2,100 shares of preferred stock at $26 cash per share. c. At the end of the year, the accounts showed net income of $40,900. No dividends were declared. Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the year