uick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock, $19 par value, 99,300 shares authorized Preferred stock, $46 par value, 8 percent, 60,500 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 79,800 shares of common stock at $38 cash per share. b. Sold 21,800 shares of preferred stock at $67 cash per share. c. Repurchased 5,100 shares of common stock for $12 cash per share. Required: Net income for the year was $91,000, cash dividends declared and paid at year-end were $30,600. Prepare the stockholders' equity section of the balance sheet at the end of the year. Note: Amounts to be deducted should be indicated with a minus sign. Stockholders' equity Contributed capital: Common stock Preferred stock QUICK FIX-IT CORPORATION Balance Sheet (Partial) At December 31 Additional paid-in capital, common stock Additional paid-in capital, preferred stock Total contributed capital Treasury stock $ 0 Cash Total stockholders' equity $ 0