The charter for Zenith, Inc., authorizes the company to issue 250,000 shares of $9, no-par preferred stock and 650,000 shares of common stock with $2 par value. During its start-up phase, Zenith, Inc. completed the following transactions: Requirement 2. Prepare the stockholders' equity section of Zenith's balance sheet at December 31, 2018. Assume the company earned net income of $35,000 during this period. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) 2018 Issued 400 shares of common stock to the promoters who organized the Apr 6 corporation, receiving cash of $13,600. 12 Issued 500 shares of preferred stock for cash of $22,000. Issued 1,500 shares of common stock in exchange for land with a market 14 value of $24,000. Paid-in capital: Stockholders' Equity Total stockholders' equity