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, 110,000 shares authorized Preferred stock, 15 percent, par value $6 per share, 4,000 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 $12 cash per share. b. Sold and issued 2,500 shares of preferred stock at $16 cash per share. c. At the end of the year, the accounts showed net income of $40,600. No dividends were declared Required: 1. Prepare the stockholders equity section of the balance sheet at the end of the year Balance Sheet (Partial At D Stockholders' equity. Contributed capital: Common stock Additional paid-in capital, common stock Addsonal paid-in capital, preferred stock Total contributed capital Retained earnings Total stockholders' equity