Witt Corporation received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent. $11 par value. 22,100 shares authorized Common stock: $9 par value, 50,500 shares authorized During the year, the following transactions occurred in the order given: a. Sold 38.100 shares of the common stock for $13 per share. b. Sold 7,500 shares of the preferred stock for $17 per share. c. Sold 3,100 shares of the common stock for $16 per share and 2,800 shares of the preferred stock for $27 per share. d. Net income for the year was $59,000. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year.