The Clothing Cove has two classes of stock authorized: 9%,$10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024 , its first year of operations: January 2 Issues 100,000 shares of common stock for \$32 per share. February 6 Issues 2,700 shares of 9 q preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $37 per share. December 15 Resells 5,500 shares of treasury stock at \$42 per share. In its first year of operations, The Clothing Cove has net income of $157,000 and pays dividends at the end of the year of $94,500 ( $1 per share) on all common shares outstanding and $2,430 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for The Clothing Cove as of December 31 , 2024 . (Amounts to be deducted should be indicated by a minus sign.)