A review of the accounting records reveals the following: 1. No errors hwe been made in recording 2022 transactions or in preparing the closing entry for net income. 2. Preferred stock is $50 par, 6%, and cumulative: 14,000 shares have been outstanding since lanuary 1, 2021. 3. Authorited stock is 19,000 shares of preferred, 502,000 shares of common with a $15 par value. 4. The January 1 balance in Retained Earnings was $1,200,000. 5. On fuly 1,21,700 shares of common stock were isued for each at $16 per share. 6. On September 1, the company discovered an understatement efror of $87,700 in computing salaries and wages expense in 2021. The net of taxeffect of $61,3% was properly debited directly to Retained Earnings 7. Acash dividend of $376,500 was declared and properly allocated to prefered and common stock on October 1. No 8. On December 31, a 10\% common stock dividend was declared out of retained earnings on common stock when the market price per share was $16 9. Net income for the year was $553,000. 10. On December 31, 2022, the directors authorized disclosure of a $209,000 restriction of retained earnings for plant expansion. (Use Note X) (a) Reproduce the Retained Earnings account for 2022 . (List items in order presented in the problem) Prepare a stockholders' equity section at December 31, 2022. (Enter account name only and do not provide descriptive information) eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Compute the allocation of the cash dividend to preferred and common stock. Allocation of the cash dividend to preferred stock Allocation of the cash dividend to common stock eTextbook and Media