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, 123,000 shares authorized Preferred stock, 9 percent, par value $13 per share, 5,600 shares authorized During the year, the following transactions took place in the order presented: a. Sold and issued 20,100 shares of common stock at $26 cash per share. b. Sold and issued 1,700 shares of preferred stock at $30 cash per share. c. At the end of the year, the accounts showed net income of $40,700. No dividends were declared. Required: 1. Prepare the stockholders' equity section of the balance sheet at the end of the year