2. Having not paid any dividends for the previous two years, Humbolt Hardware Corporation's board declared a $204,600 cash dividend at the year-end December 31,2021 . Cumulative preferred shares are entitled to a $3 dividend, and there are 5,750 shares issued and outstanding. The company had 7,133 common shares outstanding at the start of 2021 . On April 1, the company retired 6,000 common shares. On June 1, they sold an additional 2,000 shares., and on September 1, the company's board declared a 3-for-1 stock split. Assume the company has sufficient Retained Earnings to pay out all dividends. Humbolt Hardware Corporation has net income for the year of $227,500