Witt Corporation received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent, $13 par value, 21,900 shares authorized Common stock: $11 par value, 51,200 shares authorized During the year, the following transactions occurred in the order given: a. Issued 38,600 shares of the common stock for $15 per share. b. Sold 6,400 shares of the preferred stock for $19 per share. C. Sold 4,400 shares of the common stock for $18 per share and 2,300 shares of the preferred stock for $29 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. WITT CORPORATION Balance Sheet (Partial) At December 31, This Year Stockholders' equity: Contributed capital: Common stock Preferred stock Additional paid-in capital, common stock Additional paid-in capital, preferred stock Total contributed capital Retained earnings Total stockholders' equity 0