1. On December 31, 2022, Handsome Company had 100,000 shares of common stock outstanding and 30,000 shares of 7%, $100 par, cumulative preferred stock outstanding. On February 28, 2023, Handsome purchased 24,000 shares of common stock on the open market as treasury stock paying $45 per share. Handsome sold 6,000 of the treasury shares on September 30, 2023, for $47 per share. Net income for 2023 was $540,000. The income tax rate is 40%