Bridgeport Corp. has been authorized to issue 19,300 shares of $100 par value, 7%, noncumulative preferred stock and 1,030,000 shares of no-par common stock. The corporation assigned a $5 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock $143,000 20,300 Common Stock 1,925,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,440,000 Treasury Stock (3,820 common shares) 30,560 Retained Earnings 81,500 Accumulated Other Comprehensive Income 48,300 The preferred stock was issued for $163,300 cash. All common stock issued was for cash. In November 3,820 shares of common stock were purchased for the treasury at a per share cost of $8. No dividends were declared in 2022.