The following are data for the Foin Corporation on December 31, 20X8:
6% cumulative preferred stock, $40 par value, callable at $42, authorized
100,000 shares, issued and outstanding 100,000 shares ...... $ 4,000,000
Treasury stock, common (at cost) .............. 5,000,000
Additional paid-in capital, common stock ............ 9,000,000
Dividends payable .................... 200,000
Retained earnings .................... 15,000,000
Additional paid-in capital, preferred stock ........... 1,250,000
Common stock, $2.50 par value per share, authorized 1.8 million shares,
issued 1.2 million shares of which 60,000 are held in the treasury ....3,000,000
Prepare a detailed stockholders’ equity section as it would appear in the balance sheet at December 31, 20X8.