Please help explain this. I am stuck on this question.

Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock: Common stock. $10 par value. 98.000 shares authorized Preferred stock. $50 par value. 8 percent, 59,000 shares authorized During January and February of this year, the following stock transactions were completed: a. Sold 78,000 shares of common stock at $20 cash per share. b. Sold 20.000 shares of preferred stock at $80 cash per share. c. Bought 4,000 shares of common stock from a current stockholder for $20 cash per share. Required: Net income for the year was $210,000: cash dividends declared and paid at year-end were $50.000. Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.) QUICK FIXAT CORPORATION Balance Sheet Partial At December 31, This Year tributed bat Hare Total sokheid Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area. The charter issued by the state authorized the following stock Common stock, $10 par value. 98.000 shares authorized Preferred stock. $50 par value. 8 percent, 59,000 shares authorized During January and February of this year, the following stock transactions were completed a. Sold 78,000 shares of common stock at $20 cash per share. b. Sold 20.000 shares of preferred stock at $80 cash per share. c. Bought 4,000 shares of common stock from a current stockholder for $20 cash per share. Required: Net income for the year was $210.000: cash dividends declared and paid at year-end were $50,000. Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be Indicated with a minus sign.) QUICK FIX-IT CORPE Balance Sheet At December 31. This Year Stockholders equty Contributed capital Total contributed gatal Total contribution and anecaminos Total stockholders