Current Attempt in Progress

On January $5,2020.$ Sarasota Corporation received a charter granting the right to issue $4,800$ shares of $$100$ par value, $8\%$ cumulative and nonparticipating preferred stock, and $49,300$ shares of $$10$ par value common stock. it then completed these transactions.

Jan. $11$ Issued $20,400$ shares of common stock at $$16$ per share.

Feb. $1$ Issued to Sanchez Corp. $4,000$ shares of preferred stock for the following assets: equipment with a fair value of $$52,700$; a factory building with a fair value of $$175,000$; and land with an appraised value of $$292,000.$

July $29$ Purchased $1\mathrm{.}800$ shares of common stock at $$16$ per share. $($Use cost method$)$

Aug. $10$ Sold the $1,800$ treasury shares at $$13$ per share.

Dec. $31$ Declared a $$0\mathrm{.}50$ per share cash dividend on the common stock and declared the preferred dividend.

Dec. $31$ Closed the Income Summary account. There was a $$190000$ net income.

$($a$)$

$($b$)$

Prepare the stockholders' equity section of Sarasota Corporation's balance sheet as of December $31,2020.($Enter occount name only and do not provide descriptlie information.$)$

SAMASOTA CORPORATION