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Witt Corporation received its charter during January of this year. The charter authorized the following stock:...

Witt Corporation received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent, $11 par value, 22,700 shares authorized Common stock: $9 par value, 50,500 shares authorized During the year, the following transactions occurred in the order given: a. Issued a total of 39,800 shares of the common stock at $13 cash per share. b. Sold 7,500 shares of the preferred stock at $17 cash per share. c. Sold 3,300 shares of the common stock at $16 cash per share and 1,800 shares of the preferred stock at $27 cash per share. d. Net income for the year was $65,000. Required: Prepare the stockholders' equity section of the balance sheet at the end of the year. Use exact numbers please

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