Witt Corporation received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent, $13 par value, 22,500 shares authorized Common stock: $11 par value, 52,000 shares authorized During the year, the following transactions occurred in the order given a. Issued 39,300 shares of the common stock for $15 per share. b. Sold 6,200 shares of the preferred stock for $19 per share. c. Sold 3,600 shares of the common stock for $18 per share and 1,900 shares of the preferred stock for $29 per share. d. Net income for the year was $65,000. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Answer is not complete. WITT CORPORATION Balance Sheet (Partial) At December 31, This Year Stockholders' equity Contributed capital: Common stock Additional paid-in capital, common stock Preferred stock Additional paid-in capital, preferred stock $ 471,900 1,125,600 X 89.100 X 0 0 1,686,600 Total contributed capital $ 1,686,600 Total stockholders' equity