Current Attempt in Progress The stockholders' equity accounts of Blossom Corporation on January 1, 2025, were as follows. Preferred Stock (9%, $100 par noncumulative, 5,000 shares authorized) $475,000 Common Stock ($10 stated value, 800,000 shares authorized) 1,560,000 Paid-in Capital in Excess of Par-Preferred Stock 56,000 Paid-in Capital in Excess of Stated Value-Common Stock 820,000 Retained Earnings 760,000 Treasury Stock (8,300 common shares) 66,400 During 2025, the corporation had the following transactions and events pertaining to its stockholders' equity. Mar. 1 Issued 6,700 shares of common stock for $85 per share. June 22 Purchased 1,600 additional shares of common treasury stock at $11 per share. Sept. 1 Declared a 9% cash dividend on preferred stock, payable October 1. Oct. 1 Dec. 1 Paid the dividend declared on September 1. Declared a $0.60 per share cash dividend to common stockholders of record on December 15, payable December 31, 2025. 31 Determined that net income for the year was $123,000. Paid the dividend declared on December 1.