The following account balances, before any closing entries, appear on the books of Spring Company as of December 31, 2003:

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Retained Earnings (balance at Jan. 1, 2003) Dividends, Preferred Stock. Dividends, Common Stock... Common Stock ($5 par, 100,000 shares authorized, 70,000 issued and outstanding). Paid-In Capital in Excess of Par, Common Stock. Preferred Stock (6%, $50 par, 50,000 shares authorized, 5,000 issued and outstanding). Paid-In Capital in Excess of Par, Preferred Stock. $240,000 15,000 35,000 350,000 350,000 250,000 25,000 Based on these account balances, and assuming net income for 2003 of $80,000, prepare the stockholders' equity section of the December 31, 2003, balance sheet for Spring Company.