Current Attempt in Progress The stockholders' equity accounts of Whispering Winds Corporation on January 1, 2022, were as follows. Preferred Stock (8%, $48 par, 10,000 shares authorized) $ 360,000 Common Stock ($1 stated value, 2,000,000 shares authorized) 1,050,000 Paid-in Capital in Excess of Par-Preferred Stock 150,000 Paid-in Capital in Excess of Stated Value-Common Stock 1,500,000 Retained Earnings 1,800,000 Treasury Stock (10,500 common shares) 52,500 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 24,500 shares of common stock for $121,000. Apr. Sept. 3 Nov. 10 14 Sold 5,600 shares of treasury stock-common for $33,100. Issued 5,200 shares of common stock for a patent valued at $34,500. Purchased 1,100 shares of common stock for the treasury at a cost of $5,800. Dec. 31 Determined that net income for the year was $485,000. No dividends were declared during the year.