The stockholders equity section of Erich Corporation's balance sheet on December 31, 2010, follows. Prepare a statement of stockholders' equity for the year ended December 31, 2011, assuming these transactions occurred in sequence in 2011: Issued 10,000 shares of $ 100 par value, 9 percent cumulative preferred stock at par after obtaining authorization from the state. Issued 40,000 shares of common stock in connection with the conversion of bonds having a carrying value of $600,000. Declared and issued a 2 percent common stock dividend. The market value C on the date of declaration was $14 per share. Purchased 10,000 shares of common stock for the treasury at a cost of $16 per share. Declared and paid the full year's dividend on preferred stock and a dividend of $0.40 per share on common stock outstanding at the end of the year. Had foreign currency translation adjustment of minus $100,000