The stockholders' equity section of Makoto Corporation's balance sheet at December 31, 2016, appears below:

Stockholders' equity
Paid-in capital
Common stock, $10 par value, 400,000 shares authorized; 250,000 issued and outstanding		$2,500,000
Paid-in capital in excess of par		1,200,000
Total paid-in capital		3,700,000
Retained earnings		600,000
Total stockholders' equity		$4,300,000

During 2017, the following stock transactions occurred:

Jan. 18		Issued 50,000 shares of common stock at $32 per share.
Aug. 20		Purchased 25,000 shares of Makoto Corporation's common stock at $26 per share to be held in the treasury.
Nov. 5		Reissued 9,000 shares of treasury stock for $28 per share.

-Prepare the stockholders' equity section of the balance sheet for Makoto Corporation at December 31, 2017. Assume that net income for the year was $100,000 and that no dividends were declared.