During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 5,000 shares of common stock for $30,000. Mar. 20 Purchased 1,000 additional shares of common treasury stock at $9 per share. Oct. 1 Declared a 6\% cash dividend on preferred stock, payable November 1. Nov. 1 Paid the dividend declared on October 1. Dec. 1 Declared a \$0.75 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022. Dec. 31 Paid the dividend declared on December 1. Prepare the stockholders' equity section of the balance sheet at December 31, 2022. Include 2022 net income of $245,800 as an increase to the January 1,2022 , Retained Earnings. SARASOTA CORP. Partial Balance Sheet December 31, 2022 Stockholders' Equity Paid-in Capital Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock $1,320,000 490,000 Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock \begin{tabular}{l} Total Additional Paid-in Capital \\ \hline Total Paid-in Capital \\ \hline \end{tabular} Retained Earnings Total Paid-in Capital and Retained Earnings Less : Treasury Stock Total Stockholders' Equity Calculate the payout ratio, earnings per share, and return on common stockholders' equity. (Note: Use the common shares outstanding on January 1 and December 31 to determine the average shares outstanding.) (Round earning per share to 2 decimal places, e.g. \$2.66 and all other answers to 1 decimal place. 17.5\%.)