Kimmel, Financial Accounting, 9e Assignment Gradebook ORION Downloadable eTextbook ent Problem 11-02A (Part Level Submission) The stockholders' equity accounts of Whispering Winds Corp. on January 1, 2022, were as follows. Preferred Stock (7%, $100 par noncumulative, 6,000 shares authorized) $360,000 Common Stock ($4 stated value, 360,000 shares authorized) 1,200,000 Paid-in Capital in Excess of Par Value --Preferred Stock 18,000 Pald-in Capital in Excess of Stated Value - Common Stock 576,000 Retained Earnings 825,600 Treasury Stock (6,000 common shares) 48,000 During 2022, the corporation had the following transactions and events pertaining to its stockholders' equity. Feb. 1 Issued 6,000 shares of common stock for $36,000 Mar. 20 Purchased 1,200 additional shares of common treasury stock at $7 per share. Oct. 1 Declared a 7% cash dividend on preferred stock, payable November 1 Pald the dividend declared on October 1. Dec. 1 Declared a $0.50 per share cash dividend to common stockholders of record on December 15, payable December 31, 2022 Dec. 31 Determined that net income for the year was $335,000. Paid the dividend declared on December 1. Nov. 1 ctice Assignmen ment 12/31 Bal. 588000 Retained Earnings 1/1 Bal. 825000 > DOO 12/31 174600 x 12/31 Bal. 999600 Cash Dividends > 10/1 25200 ay 12/1 149400 x KU 12/31 Bal. 174600 Treasury Stock 1/1 Bal. 48000 OU but 3/20 8400 12/31 Bal. 56400