Doorman Corp. has the following stockholders’ equity information: Doorman’s charter authorizes the company to issue 9,000 shares of 8% preferred stock with par value of $120 and 700,000 shares of no-par common stock. The company issued 1,800 shares of the preferred stock at $120 per share. It issued 140,000 shares of the common stock for a total of $513,000. The company’s retained earnings balance at the beginning of 2021 was $77,000, and net income for the year was $94,000. During 2021, Doorman declared the specified dividend on preferred and a $0.20 per-share dividend on common. Preferred dividends for 2020 were in arrears. 

Requirement 

1. Prepare the stockholders’ equity section of Doorman Corp.’s balance sheet at December 31, 2021. Show the computation of all amounts. Journal entries are not required.