The stockholders equity of Aspen Corporation at December 31, 2019, follows. 7% Preferred stock, $100 par value, 20,000 shares authorized; 3,200 shares issued and outstanding $320,000 Common stock, $15 par value, 300,000 shares authorized; 24,000 shares issued and outstanding 360,000 Paid-in capital in excess of par valuepreferred stock 28,800 Paid-in capital in excess of par valuecommon stock 288,000 Retained earnings 260,000 Total stockholders equity $1,256,800 The following transactions, among other occurred during the following year. Employees exercised 9,600 stock options that were granted in 2015 and had a three-year vesting period. These options had an estimated fair value of $2 at the grant date, and an exercise price of $16. There were no other vested or unvested options after this exercise. Awarded 800 shares of stock to new executives, when the stock price was $36. Sold 8,000 shares to employees under the company-wide stock purchase plan. Under the plan, employees purchased the shares at a 10% discount when the stock price was $33 per share. Granted 32,000 new stock options, with a strike price of $34 and an estimated fair value of $6. The options vest over three years. Required Prepare the December 31, 2019, statement of stockholders equity assuming that the company reports 2019 pretax income of $386,400 before the effects of stock-based compensation. Assume the company has a 35% tax rate.