Hatch Company has two classes of capital stock outstanding: 7%, $20 par preferred and $5 par common. At December 31, 2014, the following accounts were included in stockholders equity. Preferred Stock, 152,300 shares $ 3,046,000 Common Stock, 2,127,000 shares 10,635,000 Paid-in Capital in Excess of ParPreferred Stock 209,700 Paid-in Capital in Excess of ParCommon Stock 27,420,000 Retained Earnings 4,544,000 The following transactions affected stockholders equity during 2015. Jan. 1 39,900 shares of preferred stock issued at $23 per share. Feb. 1 53,400 shares of common stock issued at $21 per share. June 1 2-for-1 stock split (par value reduced to $2.50). July 1 32,000 shares of common treasury stock purchased at $10 per share. Hatch uses the cost method. Sept. 15 10,200 shares of treasury stock reissued at $12 per share. Dec. 31 The preferred dividend is declared, and a common dividend of 55 per share is declared. Dec. 31 Net income is $2,182,000.