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, 115,000 shares authorized

Preferred stock, 15 percent, par value $6 per share, 5,200 shares authorized

During the year, the following transactions took place in the order presented:

a. Sold and issued 21,400 shares of common stock at $12 cash per share.

b. Sold and issued 2,000 shares of preferred stock at $16 cash per share.

c. At the end of the year, the accounts showed net income of $41,000. No dividends were declared.

Required:

1. Prepare the stockholders equity section of the balance sheet at the end of the year.

TANDY, INCORPORATED
Balance Sheet (Partial)
At December 31, this year
Stockholders equity:
Contributed capital:
Common stock	?
Preferred stock	?
Additional paid-in capital, common stock	?
Additional paid-in capital, preferred stock	?
Total contributed capital
Retained earnings	?
Total stockholders equity