Check my work 5 The Clothing Cove has two classes of stock authorized: 9%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2024, its first year of operations: January 2 Issues 100,000 shares of common stock for $29 per share. February 6 Issues 2.400 shares of 9 preferred stock for $11 per share September 1e Purchases 11,000 shares of its own conon stock for $34 per share. December 15 Resells 5,500 shares of treasury stock at $39 per share. In its first year of operations. The Clothing Cove has net income of $154,000 and pays dividends at the end of the year of 594,500 ($1 per share on all common shares outstanding and $2,160 on all preferred shares outstanding Required: Prepare the stockholders equity section of the balance sheet for The Clothing Cove as of December 31, 2024 (Amounts to be deducted should be indicated by a minus sign) THE CLOTHING COVE Balance Sheet (tockholders Equity Section December 31, 2024 Stockholders' equity Commonsi Preleted stock ces D Total paid in capital Treasury stock Total stockholders equy 5 0