Inside Incorporated was issued a charter on January 15 authorizing the following capital stock 3 Common stock, $6 par, 100,000 shares, one vote per share. Preferred stock, 7 percent, par value $10 per share, 5,000 shares, nonvoting. 10 points The following selected transactions were completed during the first year of operations in the order given 02:47:51 a. Issued 13,000 shares of the $6 par common stock at $16 cash per share b. Issued 2,300 shares of preferred stock at $20 cash per share c. At the end of the year, the accounts showed net income of $31,000 Print Required 1. Prepare the stockholders' equity section of the balance sheet at December 31 References INSIDE INCORPORATED Balance Sheet (Partial) At December 31 Stockholders' Equity Contributed Capital Preferred Stock Additional Paid-In Capital, Preferred Stock Common Stock Additional Paid-In Capital, Common Stock Total Contributed Capital etained Earnings 0 Total Stockholders' Equity