5 Check my work Exercise 10-7B Prepare the stockholders' equity section (L010-7) 166 points A company has two classes of stock authorized: 8%, $10 por preferred, and S1 par value common. The following transactions affect stockholders' equity during Year 1, its first year of operations: eBook January 2 Issues 100,000 shares of common stock for $23 per share. February 6 Issues 1,880 shares of 84 preferred stock for 512 per share. September 10 Purchases 10,000 shares of its own common stock for $2B per share. December 15 Resells 5,000 shares of treasury stock at $33 per share. In its first year of operations, the company has net income of $148,000 and pays dividends at the end of the year of $95,000 ($1 per share) on all common shares outstanding and $1440 on all preferred shares outstanding. Hint Print Required: Prepare the stockholders' equity section of the balance sheet for the company as of December 31. Year 1. (Amounts to be deducted should be indicated by a minus sign.) References Balance Sheet (Stockholders' Equity Section) December 31, Year 1 Stockholders' equity: Total pald-in capital Total stockholders' equity