Witt Corporation received its charter during January of this year. The charter authorized the following stock: Preferred stock: 10 percent, $11 par value, 23,000 shares authorized Common stock: $9 par value, 51,600 shares authorized During the year, the following transactions occurred in the order given: Issued 38,400 shares of the common stock for $13 per share. Sold 7,100 shares of the preferred stock for $17 per share. Sold 3,500 shares of the common stock for $16 per share and 1,700 shares of the preferred stock for $27 per share. Net income for the year was $67,000. Required:
Prepare the stockholders' equity section of the balance sheet at the end of the year.

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.