Witt Corporation received its charter during January of this year. The charter authorized the following stock:

Preferred stock: $10$ percent, $$11$ par value, $21,800$ shares authorized

Common stock: $$9$ par value, $51,500$ shares authorized

During the year, the following transactions occurred in the order given:

a$.$ Sold $38,400$ shares of the common stock for $$13$ per share.

b$.$ Sold $6,300$ shares of the preferred stock for $$17$ per share.

c$.$ Sold $4,400$ shares of the common stock for $$16$ per share and $1,100$ shares of the preferred stock for $$27$ per share.

d$.$ Net income for the year was $$61,000.$

Required:

Prepare the stockholders' equity section of the balance sheet at the end of the year.