The Golden Mushroom has two classes of stock authorized: $8\%,$ $$10$ par

preferred, and $$1$ par value common. The following transactions affect

stockholders' equity during $2024,$ its first year of operations:

In its first year of operations, The Golden Mushroom has net income of

$$150,000$ and pays dividends at the end of the year of $$95,000($ $$1$ per

share$)$ on all common shares outstanding and $$1,600$ on all preferred

shares outstanding.

Required:

Prepare the stockholders' equity section of the balance sheet for The

Golden Mushroom as of December $31,2024.($Amounts to be deducted

should be indicated by a minus sign.$)$