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In 2020, 14,500 shares were authorized and 6,800 shares of common stack ($50 par value) were issued at a price of $57. In 2021, 900
In 2020, 14,500 shares were authorized and 6,800 shares of common stack ($50 par value) were issued at a price of $57. In 2021, 900 shares were issued as a stock dividend when the stock was selling for $60.270 shares of common stock were bought in 2022 at a cost of $64 per share. These 270 shares are still in the company treasury. In 2021, 10,500 preferred shares were authorized and the company issued 4,800 of them ($100 par value) at $108. Some of the preferred stock was reacquired by the company and later reissued for $4,490 more than it cost the company. The corporation has earned a total of $557,800 in net income after income taxes and paid out a total of $335,800 in cash dividends since incorporation. Prepare the stockholders' equity section of the balance sheet in proper form for Martinez Corporation as of December 31, 2022. Account for treasury stock using the cost method. (Enter account name only. Do not provide descriptive information.) MARTINEZ CORPORATION Stockholders' Equity si
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