e post$-$closing trial balance of Metlock, Inc. at December $31,2022,$ contains the following stockholders' equity accounts.

Preferred Stock $(14,800$ shares issued$)$

$$740,000$

Common Stock $(256,000$ shares issued$)$

$2,560,000$

Paid$-$in Capital in Excess of Par$-$Preferred Stock

$249,000$

Paid$-$in Capital in Excess of Par$-$Common Storck

$388,000$

Common Stock Dividends Distributable

$256,000$

Retained Earnings

$969,400$

A review of the accounting records reveals the following.

No errors have been made in recording $2022$ transactions or in preparing the closing entry for net income.

Preferred stock is $$50$ par, $6\%,$ and cumulative; $14,800$ shares have been outstanding since January $1,2021.$

Authorized stock is $19,800$ shares of preferred, $512,000$ shares of common with a $$10$ par value.

The January $1$ balance in Retained Earnings was $$1,150,000.$

On July $1,19,000$ shares of common stock were issued for cash at $$16$ per share.

On September $1,$ the company discovered an understatement error of $$91,000$ in computing depreciation in $2019,$ whi overstated net income. The net of tax effect of $$63,700$ was properly debited directly to Retained Earnings.

A cash dividend of $$256,000$ was declared and properly allocated to preferred and common stock on October $1.$ No dividends were paid to preferred stockholders in $2021.$

On December $31,$ a $10\%$ common stock dividend was declared out of retained earnings on common stock when the mar price per share was $$16.$

Reproduce the Retained Earnings account $($T$-$account$)$ for $2022.($List items in order presented in the problem.$)$

$\backslash$table$[[$Retained Earnings$],[$eTextbook and Media$],[$List of Accounts$],[$Save for Later$]]$