Journal entries
date	Particulars			Debit	Credit
02-Jan	Cash (110000*67)			7370000
	common stock (110000*1)				110000
	additional paid in capital				7260000
14-Feb	Cash (57000*12)			684000
	preferred stock (57000*10)				570000
	additional paid in capital				114000
08-May	treasury stock (11000*57)			627000
	cash				627000
31-May	Cash (5500*62)			341000
	treasury stock (5500*57)				313500
	additional paid in capital				27500
01-Dec	dividend (110000-11000+5500)*0.40+34200			76000
	dividend payable				76000
15-Dec	no entry
30-Dec	dividend payable			76000
	cash				76000

Prepare the stockholders equity section of the balance sheet as of December 31, 2021. Net income for the year was $487,000

Prepare the stockholders equity section of the balance sheet as of December 31, 2021. Net income for the year was $487,000