Martinez Corp. has been authorized to issue 19,800 shares of $100 par value 9%, no cumulative preferred stock and 1 08 000 shares of no arco mon stock. The corporation assigned a $4 stated value to the common stock. At December 31, 2017, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par Value-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock1,490,000 Treasury Stock (3,800 common shares) Retained Earnings Accumulated Other Comprehensive Income $148,000 20,800 1,950,000 41,800 84,000 48,800 The preferred stock was issued for $168,800 cash. All common stock issued was for cash. In November 3,800 shares of common stock were purchased for the treasury at a per share cost of $11. No dividends were declared in 2017