Exercise 13-13 Preparing stockholders' equity section LO P1, C2, P3, C3 In Draco Corporation's first year of business, the following transactions affected its equity accounts. Ssued 5,400 shares of $2 par value common stock for $32. It authorized 20,000 shares ssued 1,350 shares of 12%, $10 par value preferred stock for $37. It authorized 3,000 shares Reacquired 270 shares of common stock for $44 each Retained earnings is impacted by reported net income of $64,000 and cash dividends of $22,000 Prepare the stockholders' equity section of Draco's balance sheet as of December 31. (Amounts to be deducted should be Indicated by a minus sign.) DRACO CORPORATION Stockholders' Equity Section of the Balance Sheet December 31 S Total stockholders' equity