Flounder Corporation had the following stockholders' equity accounts on January 1, 2022: Common Stock ($5 par) $550,000, Paid-in Capital in Excess of Par-Common Stock $215,000, and Retained Earnings $110,000. In 2022, the company had the following treasury stock transactions. Mar. 1 Purchased 7,000 shares at $9 per share. June 1 Sept. 1 Sold 1,500 shares at $13 per share. Sold 1,500 shares at $11 per share. Dec. 1 Sold 1,500 shares at $6 per share. Flounder Corporation uses the cost method of accounting for treasury stock. In 2022, the company reported net income of $25,000.