Larkspur, Inc. reported the following balances at December 31, 2021: common stock $401,000, paid-in Capital in Excess of Parcommon stock $101,000, and retained earnings $244,000. During 2022, the following transactions affected stockholders' equity.

1.		Issued preferred stock with a par value of $123,000 for $195,000.
2.		Purchased treasury stock (common) for $39,000.
3.		Earned net income of $136,000.
4.		Declared and paid cash dividends of $50,500.

Prepare the stockholders equity section of Larkspur, Inc.s December 31, 2022, balance sheet.

Larkspur, Inc. Balance Sheet (Partial) > $