During $2022,$ the following events and transactions occurred:

On February $28$th$,$ the board of directors declared a property dividend of $7,000$ shares of Sowell Corporation common stock that Lizzo had purchased in January as an investment with a cost basis of $$125,000.$ The investment shares had a fair value of $$20$ per share and were distributed March $31$st to shareholders of record March $15$th$.$

On June $30$th$,$ a $5\%$ common stock dividend was declared and distributed. The market value of the common stock was $$30$ per share.

On September $5$th$,$ the company reissued $1,000$ shares of treasury stock at a price of $$31$ per share.

On December $1$st$,$ the board of directors declared the annual cash dividend of $6\%$ on the $10,000$ preferred shares, payable on December $28$th to shareholders of record December $20$th$.$

On December $1$st$,$ the board of directors declared a cash dividend of $$0\mathrm{.}20$ per share on its common shares, payable on December $28$th to shareholders of record December $20$th$.$

On December $29$th$,$ the company issued $50,000$ shares of common stock at a price of $$35$ per share.

On December $15,$ a $2-$for$-1$ stock split was declared and distributed. The market value of the $$3$ par common stock was $$40$ per share. Hint: the number of treasury shares are affected by this stock split.

Net income for the year was $$5,877,000.$