Tandy, Incorporated, was issued a charter on January 15, 2014, that authorized the following capital stock: Common stock, no-par, 122,000 shares Preferred stock, 8 percent, par value $14 per share, 4,400 shares The board of directors established a stated value on the no-par common stock of $16 per share. During 2014, the following selected transactions were completed in the order given: a. Sold and issued 21,100 shares of the no-par common stock at $28 cash per share. b. Sold and issued 1,600 shares of preferred stock at $32 cash per share. c. At the end of 2014, the accounts showed net income of $40,300. Required: 1. Prepare the stockholders equity section of the balance sheet at December 31, 2014.