Hardaway Fixtures' balance sheet at December $31,2023,$ included the following:

Shares issued and outstanding:

Common stock, $$1$ par $ $820,000$

Nonconvertible preferred stock, $$50$ par $10,000$

On July $21,2024,$ Hardaway issued a $25\%$ stock dividend on its common stock. On December $12,$ it paid $$10,000$ cash dividends on the preferred stock. Net income for the year ended December $31,2024,$ was $$2,200,000.$