Edward Tandy Company reported the following balances at December $31,2019$: common stock $$550,000$; paid$-$in capital in excess of par$-$common stock $$195,000$; retained earnings $$355,000.$ During $2020,$ the following transactions affected stockholder's equity.

Issued preferred stock with a par value of $$195,000$ for $$225,000.$

Purchased treasury stock $($common$)$ for $$65,000.$

Earned net income of $$250,000.$

Declared and paid cash dividends of $$84,000($ $$22,660$ preferred$).$