Exercise $10-8($Algo$)$ Prepare the stockholders' equity section $($LO$10-7)$

The Golden Mushroom has two classes of stock authorized: $8\%,$$$10$ par preferred, and $$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 $$31$ per share.

February $6$ Issues $2,600$ shares of $8\%$ preferred stock for $$12$ per share.

September $10$ Purchases $10,000$ shares of its own common stock for $$36$ per share.

December $15$ Resells $5,000$ shares of treasury stock at $$41$ per share.

In its first year of operations, The Golden Mushroom has net income of $$156,000$ and pays dividends at the end of the year of $$95,000($ $$1$ per share$)$ on all common shares outstanding and $$2,080$ on all preferred shares outstanding.

Required:

Prepare the stockholders' equity section of the balance sheet for The Golden Mushroom as of December $31,2024.($Amounts to be deducted should be indicated by a minus sign.$)$

$\backslash$table$[[$THE GOLDEN MUSHROOM,$],[($Stockholders$\text{'}$ Equity Section$),],[$December $31,2024,],[$Stockholders$\text{'}$ equity:,$],[$Common stock,$],[$Preferred stock,$],[$Additional paid$-$in capital,$],[,]$