Echota Corporation Has the Following Capital Stock Outstanding at December $\quad$

Essay

Echota Corporation has the following capital stock outstanding at December 31 2017:
7% Preferred stock $100 par value cumulative 15,000 shares issued and outstanding $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\$ 1,500,000$
Common stock, no par, $\$ 10$ stated value, 500,000 shares authorized,
350,000 shares issued and outstanding $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$3,500,000$ The preferred stock was issued at $120 per share. The common stock was issued at an average per share price of $14.
Instructions
Prepare the paid-in capital section of the balance sheet at December 31 2017.