Problem $11\mathrm{.}8$A $($Static$)$ Reporting Stockholders' Equity with Treasury Stock $($LO$11-4,11-5,11-7,11-9)$

Early in $2019,$ Feller Corporation was formed with authorization to issue $50,000$ shares of $$1$ par value common stock. All shares were issued at a price of $$8$ per share. The corporation reported net income of $$95,000$ in $2019,$ $$27,500$ in $2020,$ and $$75,700$ in $2021.$ No dividends were declared in any of these three years.

In $2020,$ the company purchased its own shares for $$35,000$ in the open market. In $2021,$ it reissued all of its treasury stock for $$40,000.$

Required:

a$.$ Prepare the stockholders$$ equity section of the balance sheet at December $31,2021.$