Teal Mountain Company reported the following balances at December 31,2019: common stock $545,000; paid-in capital in excess of par value $150,000; retained earnings $350,000. During 2020 , the following transactions affected stockholders' equity. 1. I55ued preferred stock with a par value of $158,000 for $212,000. 2. Purchased treasury stock (common) for $48,500. 3. Earned net income of $170,000. 4. Declared and paid cash dividends of $69,000. Prepare the stockholders' equity section of Teal Mountain Company's December 31,2020 , balance sheet