Exercise 11-15 (Algo) Preparing stockholders' equity section LO P1, C2, P3, C3 In Draco Corporation's first year of business, the following transactions affected its equity accounts. - Issued 4,400 shares of $2 par value common stock for $22. It authorized 20,000 shares. - Issued 1,100 shares of 12%,$10 par value preferred stock for $27. It authorized 3,000 shares. - Reacquired 220 shares of common stock for $34 each. - Retained earnings is impacted by reported net income of $54,000 and cash dividends of $17,000. Prepare the stockholders' equity section of Draco's balance sheet as of December 31 . Note: Amounts to be deducted should be indicated by a minus sign